ExpertEasy1 markMultiple Choice
ACCA · Question 43 · Syllabus A: The business organisation and its external environment
[Section A] In a PESTEL analysis, an aging population leading to a smaller available workforce is classified under which factor?
[Section A] In a PESTEL analysis, an aging population leading to a smaller available workforce is classified under which factor?
Answer options:
A.
Economic
B.
Social (or Socio-cultural)
C.
Political
How to approach this question
Identify where demographic trends fit in the PESTEL acronym.
Full Answer
B.Social (or Socio-cultural)✓ Correct
The 'Social' (or Socio-cultural) component of PESTEL includes demographic trends, population growth rates, age distribution, cultural attitudes, and lifestyle changes. An aging population is a classic demographic/social factor.
Common mistakes
Classifying it as Economic because a shrinking workforce affects wages. The root cause (population age) is Social.
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