📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    'Take off stage' is an economy

    means,
    A Economy is stagnant Correct Answer Incorrect Answer
    B Economy is about to collapse Correct Answer Incorrect Answer
    C Steady growth begins Correct Answer Incorrect Answer
    D All controls are removed Correct Answer Incorrect Answer

    Solution

    Rostow's (1960) 'Stages of Economic Growth' has introduced five stages that all countries must go through in order to develop: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity, and 5. ) age of high mass consumption. Take-off is a short period of great growth when industrial development begins, and workers and institutions focus on the new industry.

    Practice Next
    More Economic and Social Issues ESI Questions

    Relevant for Exams:

    ask-question