Chapter 14:Products and Services for Businesses Flashcards
1
Q
5 Stages of Economic Development
A
- Traditional Society
- Preconditions for takeoff
- Takeoff
- Drive by maturity
- Age of Mass Consumptions
2
Q
Traditional Society
A
The most important industrial demand and will be associated with natural resource extraction.
3
Q
Pre-conditions for Takeoff
A
Manufacturing is beginning, primary needs will be infrastructure development
4
Q
Take-off
A
Manufacturing of both semi-durable and durable goods has begun.
5
Q
Drive by Maturity
A
Focus more on low cost manufacturing of a variety of consumer and some industrial goods
6
Q
Age of Mass Consumption
A
Countries where design activities are going on and manufacturing techniques are being developed. Mostly a service based economy.
