Question

How population and economic development are interrelated?

Answer 1

Answer:

This is so because the relationship between population growth and economic development is intricate, complex and interacting. On the positive side, an increasing population means an increase in the supply of labour— a basic factor of production. ... A growing population leads to an increasing total output.

Answer 2

Answer:

Population growth enlarges labour force and, therefore, increases economic growth. A large population also provides a large domestic market for the economy. Moreover, population growth encourages competition, which induces technological advancements and innovations.