Post-industrial Stage

Definition

The post-industrial stage refers to a phase in a country's development where services become the primary economic activity instead of manufacturing. Birth rates continue to decline while life expectancy remains high.

Analogy

Picture yourself at an amusement park. After enjoying all the thrilling rides, you decide to relax and enjoy the shows, restaurants, and shops. The post-industrial stage is like that phase of development where a country focuses more on providing services and experiences rather than producing goods.

Related terms

Service Sector: The part of the economy that includes activities such as retail, healthcare, education, entertainment, and tourism.

Information Technology: The use of computers, software, networks, and electronic systems to store, process, transmit, and retrieve information.

Globalization: The increasing interconnectedness and interdependence of countries through trade, communication, technology advancements, and cultural exchange.