Which Theoretical Approach Is Linked to Modernization Theory

question 88

Multiple Choice

Which theoretical approach is linked to modernization theory?

• A) the structural-functional approach
• B) the symbolic-interaction approach
• C) the social-exchange approach
• D) the social-conflict approach

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Definitions:

Market Forces

The natural effects of supply and demand that determine prices and resource allocation in a market economy.

Collective Decision-Making

The use of the political process (voting, taxes, government spending, regulation, political bargaining, lobbying, and so on) to make decisions and allocate resources. In a democratic setting, the votes of citizens and their representatives will determine the actions undertaken.

Basic Economic Questions

Fundamental questions that every economic system must address: What to produce, how to produce, and for whom to produce.

Private-Property Rights

Legal provisions that allow individuals to own, control, and benefit from property such as land, buildings, or intellectual property.