Print Friendly, PDF & Email

Explain the concept of Silver economy. Do you think it can prove to be a source of opportunities? Discuss the challenges and the benefits of it.

Topic: population and associated issues, poverty and developmental issues, urbanization, their problems and their remedies.

1. Explain the concept of Silver economy. Do you think it can prove to be a source of opportunities? Discuss the challenges and the benefits of it. (250 words)

Reference:  oecd.org

Why the question:

The question is based on the concept of Silver economy, important from the Mains point of view.

Key Demand of the question:

One must elaborate upon the concept of Silver economy and discuss the opportunities associated with it as well as highlight the challenges and benefits.

Directive:

Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.

Structure of the answer:

Introduction:

Start with the definition of what Silver economy is.

Body:

A sector around seniors over the age of 50; Covering the needs and demands of seniors over 50, the Silver Economy covers many products and services using very different technologies, including home automation, sensors and connected objects. The sector deals with the heterogeneous and difference of consumption between working retirees and dependent older people, and evolves within a complex financing ecosystem that does not facilitate a clear definition of the sector stakeholders relationships.

Discuss how does a silver economy come into place and what are its pros and cons for a country.

Explain in what way a Silver Economy can be a source of opportunities.

Conclusion:

Conclude with way forward.