Age structure of the population refers to the distribution of individuals across different age groups in a given population. This is generally represented in the form of a pyramid or a bar graph, with the youngest age groups at the bottom and the oldest at the top.

Relevance for Economic Development and Growth:

1. Impact on Labor Force:
The age structure of the population has a significant impact on the size and composition of the labor force. A large population of working-age individuals can contribute to economic growth and development as they can increase productivity and innovation.

2. Demographic Dividend:
A favorable age structure can lead to a demographic dividend, where a large proportion of the population is of working age and productivity is high. This can lead to increased investment in education, training, and technology, which can further boost economic growth.

3. Consumption and Savings:
The age structure also affects consumption and savings patterns, as different age groups have different needs and preferences. Younger individuals tend to have higher consumption rates, while older individuals tend to save more. This can impact the overall demand and supply in the economy.

4. Health Care and Social Security:
The age structure of the population also has implications for health care and social security systems. An aging population may require more resources to support health care and retirement benefits, which can impact government budgets and economic growth.

Conclusion:
In summary, the age structure of the population is a critical factor that impacts economic development and growth. A favorable age structure can lead to a demographic dividend, increased labor force participation, and higher productivity. However, an aging population can also pose challenges to social security and health care systems, which require careful planning and policy interventions.