Final answer:
The third stage in Rostow’s stages of modernization is the Take-off stage, where significant industrial growth occurs, leading to rural-to-urban migration and the beginning of more modern economic activities.
Step-by-step explanation:
According to Rostow's stages of modernization, the third stage is the Take-off stage. During this phase, economies begin to shift from agricultural to industrial bases. The take-off stage is marked by sectors of the economy experiencing rapid growth, leading to significant increases in income and employment. There is also a high rate of rural-to-urban migration as people seek jobs in the growing industrial and service sectors.
The Rostow model, proposed in the 1960s by economist Walt Rostow, describes the economic development as a series of five progressive stages. It illustrates how societies transform from a traditional agrarian economy to a modern, urbanized, and consumer-based economy.
Rostow's third stage relates to modernization theory, which emphasizes industrialization as the primary driver of a nation's evolution towards complex industry and advanced technology. This theory is used to study the global economy and the development patterns of various nations.