Aging Populace
Definition
An aging populace refers to a situation where a large proportion of a country's population is made up of elderly individuals. This can occur due to declining birth rates and increased life expectancy.
Analogy
Picture an ice cream shop that offers only two flavors: vanilla (young people) and chocolate (elderly people). Over time, fewer young customers come in for vanilla while chocolate lovers keep coming back. Eventually, most of the customers will be enjoying their scoops of chocolate ice cream, representing an aging populace.
Related terms
Dependency Ratio: The ratio between dependents (children and elderly) and working-age individuals in a population.
Pension System: A system that provides financial support for retired or elderly individuals.
Longevity: The length or duration of an individual's life span.
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