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According to Max Weber, What Is the Key to Modernization

question 64

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According to Max Weber, what is the key to modernization or the transformation of traditional societies into industrial societies?


Definitions:

Invested Assets

Assets acquired by a company or individual as a means of generating future income.

Investment Turnover

A measure of a company's efficacy in using its assets to generate revenue, calculated by dividing sales by the average investment.

Profit Margin

is the percentage of revenue that remains as profit after all expenses are subtracted from sales.

Return On Investment

A measure of the profitability and efficiency of an investment, calculated by dividing the gain from an investment by the cost of the investment.

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