The demographic transition model describes 5 stages of population change driven by falling death rates and varying birth rates over time. Stage 1 involves high birth and death rates resulting in a stable population. Stage 2 involves declining death rates and continued high birth rates, leading to rapid population growth. Stage 3 involves both falling birth and death rates, resulting in slower but continued population growth. Stage 4 involves low and stable birth and death rates, reaching population stability. Some countries are now experiencing Stage 5, with birth rates falling below death rates, causing total population decline.