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Question : 'Take-off stage' in an economy means

Option 1: steady growth begins

Option 2: economy is stagnant

Option 3: the economy is about to collapse

Option 4: all controls are removed


Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: steady growth begins


Solution : The correct answer is steady growth begins.

A country is said to take off when it has made comprehensive changes to its resources and embarked on a path of economic growth that continues for decades. The stage lasts for 20 to 30 years, during which the process of economic development of the country becomes self-sustaining. The third most important stage of growth is called the take-off stage.

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