Final answer:
Piaget's Preoperational stage involves the development of language and symbolic thinking but also exhibits limitations such as the inability to perform mental operations like conservation.
Step-by-step explanation:
The stage of Piaget's theory of cognitive development that involves language development and is characterized by a limited ability to generalize is the Preoperational stage. This stage spans from approximately 2 to 7 years of age. During this time, children begin to use symbols and language to represent objects and ideas, but they do not yet possess the ability to perform mental operations such as conservation, which involves understanding that the properties of objects remain constant despite changes in their form or arrangement.
Children in the preoperational stage demonstrate a concrete understanding of the world and often exhibit egocentrism, meaning they cannot easily see things from perspectives other than their own. The central developmental achievements in this stage include the growth in use of language and symbolic play, but they also reflect the limitations in the child's cognitive processes that will be overcome in later stages.