Modernization Theory Argues That

question 60

Multiple Choice

Modernization theory argues that:

• A) state-run economies are most efficient for creating modernized countries.
• B) low-income countries must preserve their traditional cultures to develop.
• C) high-income countries have a responsibility to give free resources to low-income countries.
• D) low-income societies can develop economically only if they give up their traditional ways and adopt modern economic institutions, technologies, and cultural values that emphasize savings and productive investment.

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Definitions:

Duty of Indemnity

The obligation to compensate for loss, damage, or liability incurred by another, often arising from contractual agreements or the law of agency.

Tort Damages

Tort damages refer to compensation awarded to a person who has suffered loss or harm due to the unlawful act or negligence of another.

Unauthorized Acts

Actions taken by an individual or entity without the necessary permission or authority, often leading to legal consequences.

Confidential Information

Information that is not public knowledge and is protected by law or agreement, disclosing it only to those who are authorized.