CAF-7 · Chapter 3 · Question 8 of 15
A life insurance company expands its product portfolio to include specialized retirement planning and geriatric care financing, reacting to national statistics that show a rapidly aging population and declining birth rates. Which PESTEL element is the company reacting to?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Social
Explanation
Changes in demography, such as an aging population, varying life expectancies, and declining birth rates, are core components of the Social environment that directly affect consumer demand.
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