What Are the Key Differences Between Dependency Theory and Modernization

question 42

Essay

What are the key differences between dependency theory and modernization theory as they apply to Sub-Saharan Africa? How has the concept of environmental determinism been applied to explain Sub-Saharan Africa's underdevelopment?

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Definitions:

Global Economy

The worldwide system of economic activities and transactions, encompassing the integrated economies of countries.

Profit Equation

The formula that calculates profit by subtracting total expenses from total revenue.

Total Revenue

The overall income generated by a business from all its sales activities before any costs or expenses are deducted.

Total Cost

The complete cost of production, including both fixed and variable costs, or the entire expense incurred in a transaction.