Which model describes the stages of economic modernization in a country?

The correct choice describes Rostow's Model, which outlines a linear process comprising five distinct stages that nations go through as they modernize economically. This model was developed by economist Walt Rostow in the 1960s and frames economic development as a progression from traditional societies based on agriculture to modern, industrialized economies.

Rostow identified these stages as:

1. The Traditional Society: Characterized by subsistence agriculture and limited technology.

2. The Preconditions for Take-off: Involves the development of more productive agricultural practices and the beginnings of industrialization.
3. The Take-off: Defined by rapid industrial growth, improvements in manufacturing, and increased investment in infrastructure.
4. The Drive to Maturity: Marked by the diversification of the economy and the development of a robust industrial sector.
5. The Age of High Mass Consumption: Characterized by widespread consumerism with a focus on services and high levels of personal income.

This model is significant because it provides a framework to understand how economies evolve over time through specific and predictable stages, allowing for the analysis of economic policies and the socio-economic transformations nations experience.

In contrast, the other options present different perspectives on development. The Demographic Transition Model addresses changes in population growth and structures, World