The Theory That Argues That Modernization Exploited Both Individuals Within

question 32

Multiple Choice

The theory that argues that modernization exploited both individuals within industrialized economies and LDCs on the whole is

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

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Definitions:

Merchandise Purchases

The acquisition of goods for resale at a profit, a central activity of retail and wholesale businesses.

Lower of Average Cost or Market

An inventory valuation method where inventory is valued at either its average cost or market value, whichever is lower.

Cost-to-retail Percentage

A ratio used in inventory valuation that compares the cost of inventory to its retail price.

Freight-in Charges

Costs associated with transporting goods from the supplier to the buyer's location.