In an economy where the population has met basic needs and seeks to spend large discretionary income on products that improve quality of life is in the ______ stage of economic development.
A) Traditional Society
B) Pre-conditions for take-off
C) Take-off
D) Maturity
E) High mass consumption

Question

Quizplus · Accepted Answer

The High mass consumption stage of economic development is characterized by a population with high levels of discretionary income, who seek to spend it on products that improve their quality of life beyond basic needs. This stage follows the Maturity stage, where the economy has reached a stable level of growth and development.

In an Economy Where the Population Has Met Basic Needs