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: -The quinary sector represents the highest level of decision-makers who establish policy guidelines in policymaking. In contrast, the quaternary sector is part of the tertiary sector of the economy, which is knowledge-based. The quinary sector does not allow for the entire outsourcing of services.
Detailed explanation-2: -Sectors of Economy: Primary, Secondary, Tertiary, Quaternary and Quinary.
Detailed explanation-3: -The primary and secondary sectors are responsible for securing and processing raw materials into material goods. The tertiary sector includes the service-based industries, and the quaternary and quinary sectors are extensions of the tertiary sector.
Detailed explanation-4: -Tertiary sector: Companies that provide services such as entertainment, financial, and retailers. Quaternary sector: Involves knowledge-based activities such as information technology, research, and development, as well as consulting services and education.