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5 Cards in this Set
- Front
- Back
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Traditional Society |
Agricultural based economy, limited population growth and social/economic progress, slow changing society |
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Preconditions for Takeoff |
Society achieves a surplus of wealth, savings are invested, more efficient and responsive government |
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Economic Takeoff |
Economy begins to change, agriculture changes from subsistence to commercial, tertiary sectors expand |
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Drive to Maturity |
Extended period of economic growth, per-capita wealth increases, economy is diversified |
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High Mass Consumption |
Incomes are commonly greater than necessary, a growing demand for additional consumer goods, society is wealthy enough to invest in social programs |
