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What Is the First Stage of Rostow's Five-Stage Model of Economic

question 67

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What is the first stage of Rostow's five-stage model of economic development?


Definitions:

Goods

Physical items that are produced, bought, or sold to satisfy wants or needs of consumers.

Services

Intangible products provided to consumers, such as healthcare, education, and financial advice, that do not result in ownership of any physical goods.

Supply Chain

The network of suppliers, manufacturers, distributors, and retailers that work together to produce and deliver products to the end consumer.

Global Operations

Business activities conducted on an international scale, encompassing the production, distribution, marketing, and sales of goods and services around the world.

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