Why is Europe’s aging population an economic issue? (1 point) Older people are not retiring and letting younger people enter the workforce. There are now more retired people than working people in many countries. Many people have retired, leaving fewer people working and earning wages. Older people demand more goods and services than countries can provide.
The correct answer is: Older people demand more goods and services than countries can provide.
Europe's aging population presents an economic issue due to the increased demand for goods and services required to support the needs of elderly individuals. As people age, their healthcare, pension, and social care needs tend to increase, requiring additional resources and funding. This puts a strain on the economy, as the government and society must allocate a significant portion of resources to cater to the needs of the older population. This can lead to budget deficits, increased taxation, and reduced funding for other sectors such as education and infrastructure.