Question on: JAMB Economics - 2022
A positive effect of a rapid population increase is
A
an excessive budget deficit
B
a reduction in standard of living
C
a wider market for goods and services
D
a higher dependency ratio
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Correct Option: C
Option C is the correct answer.
A large population has three positive effects:
- It boosts the abundance of inexpensive labor.
- It generates a significant market since investors prefer to invest in countries with large populations.
- It encourages innovation among individuals.
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