High Mass Consumption

This stage is also known as the "age of high mass consumption" or "the welfare stage "the stage of high standards of living"

  • There is a high level of technological maturity, in all sectors.
  • All the desires or needs of society are satisfied.
  • The figures of the GNP are very high.
  • Balance of Payments surplus i.e. favourable B.O.P position.
  • High levels of consumption of goods and services especially durable luxury items.
  • Full utilization of the resource potential.
  • The economy becomes fully developed in almost all the productive sectors.
  • The country's terms of trade position is favourable.
  • The exportation of goods and services is very high.
  • Automation and computerization of most of the productive sectors.
  • High levels of industrialization in all productive processes.
  • The viscious circle of poverty is completely broken.
  • High standards of living e.g in countries like Canada, Japan, USA, Britain, France, Germany, etc.
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