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

Question

Quizplus · Accepted Answer

Stage 5: High mass consumption (for example, Germany). Consumption patterns shift as consumers demand higher levels of service and more durable goods. Income levels rise, creating a large population with discretionary income. Put another way, people are no longer concerned with simply surviving (food, shelter) but, rather, seek products and services that enhance the quality of their life. In other words, products are not needed but wanted.

In an Economy Where the Population Has Met Basic Needs