Kevin Has a Large House,a Big Car,and Multiple Television Sets

question 33

Multiple Choice

Kevin has a large house,a big car,and multiple television sets.These are consumption markers for development according to which theory?

• A)neomodernization theory
• B)world-systems theory
• C)postcolonialism theory
• D)modernization theory

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Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities, representing the ownership value.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and/or funds obtained from special financing sources.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue.