Economics Industrialization Questions
The different stages of industrialization are as follows:
1. Pre-industrial stage: This stage is characterized by an agrarian economy where most of the population is engaged in agriculture and production is primarily for subsistence. There is limited use of machinery and technology.
2. Industrial stage: This stage marks the transition from an agrarian economy to an industrial one. It is characterized by the introduction of machinery, mass production, and the growth of factories. There is a shift from agriculture to manufacturing as the main source of economic activity.
3. Post-industrial stage: This stage represents a further shift in the economy, where manufacturing becomes less dominant, and services and information-based industries become more prominent. This stage is characterized by the growth of the service sector, advancements in technology, and increased reliance on knowledge-based activities.
It is important to note that these stages are not necessarily linear and can overlap in different countries or regions depending on their level of development and economic structure.