Walt Whitman Rostow's 1960 model of stages of economic growth describes how societies become modern, industrial economies over five separate stages. The "take-off" stage, which is the third step, describes the moment when societies move toward full industrialization in certain specific ways, such as technological innovations, urbanization, production of secondary goods such as textiles, and intense growth in specific sectors.

Rostow’s model of Stages of Development does not account for deindustrialization at all. This is particularly interesting because deindustrialization in the developed world occurred almost immediately after Rostow published his model, meaning he was unable to foresee a development that was only a few years around the corner.

When you think of it, Rostow's stages are pretty intuitive. It all starts with traditional society, wherein there is little social mobility or technology, and a lot of agriculture. After meeting the pre-conditions, a society can then move into the take-off stage, wherein urbanization, industrialization, and technological advances occurs in response to external demand for raw materials and investment in production is secured. As take-off picks up speed, it becomes a drive to maturity, wherein diversification of industries, development methods, and a growing social infrastructure rise to meet the demands of the competition and expansion. Finally, an industrial economy takes hold, and social infrastructure gives way to accessibility and consumer culture: the Age of Mass Consumption

Rostow’s Stages of Development model is only concerned with economic geography; therefore, it would be unreasonable to criticize it for focusing on economic differences. The primary criticism leveled at Rostow’s model by contemporary geographers is that it presumes that the experience of western economies—and their path of development—can be universally applied. Modern evidence suggests that there are multiple paths to development; furthermore, evidence suggests that development can take on numerous forms.

The second stage of Rostow’s Stages of Development is generally described as “prerequisites for rapid economic growth.” It is the intermediary step between a traditional, agrarian society and industrial explosion. It primarily involves external investment and a much greater exploitation of natural resources.

There are five stages in Rostow’s Stages of Development: traditional society, preconditions to takeoff, takeoff, drive to maturity, and age of high mas consumption. In the 1960s, American economist called W.W. Rostow developed this theory. It is based off of the models of economic activities.

The fifth stage of Rostow’s Stages of Development is characterized by widespread consumerism and mass consumption. According to Rostow this is the final stage in the development of a country’s economy.

The fourth stage of Rostow’s stages of Development primarily involves the development of a large commercial economy, something akin to consumer-capitalism. It also generally involves favorable integration into the global economy.

Introduction of investment from external sources is a characteristic of the second stage of Rostow’s model so we can eliminate that answer choice and the one that reads “all of these answers are correct.” Although, social and political change can accompany the third stage of Rostow’s model they do not define it in the way that large-scale investment in manufacturing and infrastructure do. In Rostow’s model the third stage represents the biggest revolutionary change in a country’s economic development. It is when the majority of employment transitions from primary economic activities to secondary economic activities - as has happened recently in China.

Rostow's Stages of Economic Growth include the following five stages: Traditional Society; Preconditions for Take-Off; Take-Off; Drive to Maturity; and Age of High Mass Consumption. Rostow's model is one of the most significant historical models of economic growth. The model does not include "Postmodern Society."