Question

describe the various stages of economic development​

Answer 1

Unlike the stages of economic growth (which were proposed in 1960 by economist Walt Rostow as five basic stages: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption), there exists no clear definition for the stages of economic development. Still, most development economists agree that the key stages of development are related to three different transitions: a) a structural transformation of the economy, b) a demographic transition, and c) a process of urbanization.

Hope it will help you........