While Modernization Theory Focuses on _____, Dependency Theory Focuses on _____

question 66

Multiple Choice

While modernization theory focuses on _____, dependency theory focuses on _____.

• A) poor nations; rich nations
• B) the future; the past
• C) production of wealth; distribution of wealth
• D) ownership of property; means of production

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Definitions:

Sufficient Consideration

The concept in contract law that something of value, which is mutually agreed upon by the parties involved, must be exchanged for a contract to be legally binding.

Illusory Agreement

A contract or agreement that appears to be binding but lacks the necessary elements to enforce it, often because terms are too vague or one party has the option not to perform.

Monetary Value

The economic worth assigned to goods, services, or assets in terms of currency.

Promissory Estoppel

A legal principle that prevents a person from going back on a promise, even if it was made without formal consideration, if another person reasonably relied on that promise to their detriment.