Average life expectancy in most European countries extends well past the age of retirement.
Explanation:
The European Union, or at least most of its members, tend to have relatively good welfare systems. This is the case because of the strong economies of the countries but also because it helps the population, which in turn tends to have positive effects. Some countries are even targeted for migration just because of their generous welfare system.
This situation is very likely to change though as there is a very big chance that the economies of the European countries will not be able to sustain the welfare systems that they currently have. The main reason for this is that the population is aging. With the population becoming older and older, there are more and more people that rely on the welfare system, creating a disbalance in its functioning. On top of that, life expectancy is high and is gradually increasing, meaning that not just more people will rely on the welfare system but also for a longer period of time.
The Three Economic Sectors. According to the three-sector theory, all economic activity can be classified into one of three sectors: the primary sector, the secondary sector and thetertiary sector.
