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Word Count: 1,124
If we look at the world as if for the very first time through the eyes of an economist we will be able to fully understand and appreciate the steps that each and every country must take in order to become fully grown There are five main stages of development these stages though inevitable according to Karl Marx indirectly generate many problems that may render a country economically unstable Nevertheless despite the difficulties that our country Belize may face it is important that we face up to our problems and carry on In order for us to understand the stages of a developing country we must first learn what economic growth is It is the steady process of increasing productive capacity of the economy and hence increasing National Income There are five stages in which a society evolves the traditional society where output per head is low and agricultural work is prominent the Prerequisite stage to take off in which the traditional system is over come and the foundation is set for science and technology the Take off stage where all resistance to change are over come the Drive to maturity in which new industries are developed and net exports become positive and finally the Mature stage in which there is a high consumption and production rate present All countries in the world including Belize is at some point in this entire process however in time with good leadership and hard work we will eventually proceed up the economic ladder AS for the persistent problems that we face at every turn we make we must take them one at a time and explore their solutions A major concern of economists today is whether or not we are able to take advantage of our trade capabilities The determinants of trade is a very convincing factor that serves to threaten economic growth as it is only when a country is able to increase its exports and
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