A Theory That Suggests That Urbanization,secularization,and Cultural Tolerance That Encourage

question 37

Multiple Choice

A theory that suggests that urbanization,secularization,and cultural tolerance that encourage an entrepreneurial spirit are the product of the dismissal of traditional practices is known as

• A) dependency theory.
• B) modernization theory.
• C) world-systems theory.
• D) self-reliance theory.

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Definitions:

Reduced Prices

The offering of goods and services at lower rates than originally marked, often to clear inventory or boost sales.

Competition

The economic rivalry among businesses to attract customers, increase sales, and achieve a higher market share.

Natural Monopoly

A type of monopoly that occurs when a single firm can supply the entire market at a lower cost than any potential competitors, often due to high fixed costs.

Fair Return

A reasonable profit that companies aim for, which covers costs and provides a sustainable margin without being excessive.