ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Stage 1:Traditional Society
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Stage 2:Pre-Condition for Take-Off
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Stage 3:Take-Off
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Stage 4:Drive to Maturity
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Stage 5:High Mass Consumption
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Detailed explanation-1: -Using these ideas, Rostow penned his classic Stages of Economic Growth in 1960, which presented five steps through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity and 5) age of high mass consumption.
Detailed explanation-2: -Egalitarianism is a trend of thought in political philosophy. An egalitarian favors equality of some sort: People should get the same, or be treated the same, or be treated as equals, in some respect.
Detailed explanation-3: -Egalitarianism is a philosophy based on equality, namely that all people are equal and deserve equal treatment in all things. As an idea, it can be looked at in terms of its implications for individuals in both an economic and legal capacity.
Detailed explanation-4: -An “egalitarian decision” is a decision made by a group as opposed to a single individual. The decision may be made by committee or elected members but still is an egalitarian decision.