ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Losch
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Rostow
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Wallerstein
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Weber
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Detailed explanation-1: -It was published by American economist Walt Whitman Rostow in 1960. The model postulates that economic growth occurs in five basic stages, of varying length: The traditional society. The preconditions for take-off.
Detailed explanation-2: -The fifth stage of Rostow’s Stages of Development is characterized by widespread consumerism and mass consumption. According to Rostow this is the final stage in the development of a country’s economy.
Detailed explanation-3: -Psychologist Bruce Tuckman developed his group development model in 1965 to explain how healthy teams cohere over time. Tuckman’s model identifies the five stages through which groups progress: forming, storming, norming, performing, and adjourning.
Detailed explanation-4: -Rostow’s model summarises economic growth of countries into five different stages: traditional society-characterised by subsistence farming or hunter-gathering. preconditions for take off-manufacturing industry begins to develop, and a country develops an international outlook.