According to Modernization Theory, Social Change

question 92

Multiple Choice

According to modernization theory, social change

• A) stems from technological change.
• B) is associated with decreased internal differentiation.
• C) requires the establishment of an upper class.
• D) can occur only when internal equality exists.

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Definitions:

Predetermined Overhead Rate

A rate calculated before a period begins, based on the estimated cost of manufacturing overhead and an allocation base, used to assign overhead costs to products.

Direct Labour-hours

The total time spent by workers who are directly involved in the manufacturing or assembly of a company’s products.

Cost of Goods Sold

The total cost directly attributed to the production of goods that were sold, including materials, labor, and overhead.

Overapplied Overhead

A situation where the overhead allocated to products or services is more than the actual overhead costs incurred.