ACCA Applied Knowledge · Business and Technology · Social and demographic factors
Which of the following is an example of a change in household structure that may affect demand for goods and services?
An increase in the number of single-person households is a change in household structure. It affects demand by raising the need for smaller homes and single-portion goods. Tax rates, accounting standards and raw material prices are not demographic changes in how people live.
- AAn increase in the number of single-person householdsCorrect
- BA reduction in the rate of corporate income tax
- CThe introduction of a new accounting standard
- DA rise in the price of raw materials
Explanation
Household structure refers to the composition of households. More single-person households raise demand for smaller homes, single-portion food and similar products. Tax rates, accounting standards and raw material prices are political, regulatory or economic factors rather than demographic ones.
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