Consider the following statements regarding the concept of demographic dividend and demographic transition:

Statements

1. The first demographic dividend arises when a growing working-age population supports fewer dependents, thereby contributing to higher GDP growth and labour productivity.
2. The transition from an 'ageing' to an 'aged' economy is universally defined as occurring when the share of the population aged 65 and above crosses 14 per cent, and this transition typically takes longer in low-income economies than in high-income ones.
3. The risk of 'ageing before getting rich' refers to a situation where a country's demographic transition to aged status occurs before it has accumulated sufficient per capita income or built adequate social protection systems to manage the economic consequences.