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Countries pass through these stages according to Rostow:
1. Traditional Society
Characterized by subsistence economy- People produce and consume themselves.
2. Transitional Stage
Trade can take place because of specialisation. This is the starting point for the next stage.
3. Take off
Industrialisation- country moving to the secondary sector e.g manufacturing.
4. Drive to maturity
Development of other sectors e.g IT and trade in services.
5. High mass consumption
High reliance of the services sector.
1. Traditional Society
Characterized by subsistence economy- People produce and consume themselves.
2. Transitional Stage
Trade can take place because of specialisation. This is the starting point for the next stage.
3. Take off
Industrialisation- country moving to the secondary sector e.g manufacturing.
4. Drive to maturity
Development of other sectors e.g IT and trade in services.
5. High mass consumption
High reliance of the services sector.
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