In Walter Rostow's Modernization Theory, the Stage During Which Manufacturing

question 43

Short Answer

In Walter Rostow's modernization theory, the stage during which manufacturing becomes industrialized, goods are produced both for export and for domestic consumption, and growth and expansion become essential features of the economy is called the .

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Definitions:

Fixed Expenses

These are costs that do not change with the level of production or sales, such as rent, salaries, and insurance.

Return On Investment

A measure used to evaluate the efficiency of an investment or compare the efficiencies of several different investments.

Residual Income

The amount of income that an entity has after all costs and expenses, including the cost of capital, have been deducted.

Return On Investment

A measure of the profitability of an investment, calculated by dividing the gain from the investment by the cost of the investment.