Question

Rostow's stages of Economic growth are:

• A. The learning curve, the age of high mass consumption, post-take off, the drive to maturity, least consumption
• B. The pre conditions for consumption, the replication, the drive to maturity, and the age of high mass consumption
• C. Traditional society, preconditions for take off, Take off, Drive to maturity and high mass consumption
• D. The pre condition for take off, the take off, the drive to maturity, and age of creative destruction.

Hint:

Remember the five stages of Rostow's model with keywords: 1. \textbf{Traditional}, 2. \textbf{Preconditions}, 3. \textbf{Take-off}, 4. \textbf{Maturity}, 5. \textbf{Mass Consumption}. This sequence is fundamental to the theory.

Answer 1

The Correct Option is C

Step 1: Understanding Rostow's Model:
Walt Whitman Rostow was an American economist and political theorist who proposed a model of economic growth that outlines five distinct stages through which countries pass as they develop. It is one of the major historical models of economic growth.

Step 2: Listing the Five Stages:
The five stages, in their correct sequence, are:

Traditional Society: Characterized by a subsistence, agricultural-based economy with intensive labor and low levels of trading.
Preconditions for Take-off: A region begins to develop, with the emergence of manufacturing and a more national/international, rather than regional, outlook.
Take-off: A short period of intensive growth, in which industrialization begins to occur, and workers and institutions become concentrated around a new industry.
Drive to Maturity: Takes place over a long period of time, as standards of living rise, use of technology increases, and the national economy grows and diversifies.
Age of High Mass Consumption: The economy is geared towards mass consumption, with a flourishing consumer goods sector.

Step 3: Analyzing the Options:


Option (A) includes incorrect terms like "learning curve" and "least consumption."
Option (B) includes incorrect terms like "pre conditions for consumption" and "replication."
Option (C) lists all five stages correctly and in the proper order.
Option (D) incorrectly includes "age of creative destruction," which is a concept associated with Joseph Schumpeter, not Rostow.

Step 4: Final Answer:
The correct sequence of Rostow's stages of Economic growth is given in option (C).