What Set of Terms Do Sociologists Use to Describe a Country's

question 32

Multiple Choice

What set of terms do sociologists use to describe a country's level of industrial and technological development?

• A) pre-industrial, industrial, post-industrial
• B) first world, second world, third world
• C) developed, developing, underdeveloped
• D) western, southern, eastern

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Definitions:

360-Day Year

A simplified method of calculating interest for commercial loans or bonds that assumes each month has 30 days, resulting in a 360-day year.

Interest

The cost of borrowing money or the return on investment, typically expressed as a percentage over a period of time.

Principal

The original sum of money borrowed in a loan, or the amount of the investment on which interest is calculated.

Promissory Note

A Promissory Note is a financial document in which one party promises to pay a specified sum of money to another party at a predetermined date or on demand.