According to Modernization Theory,the Greatest Barrier to Economic Development Is

question 18

Multiple Choice

According to modernization theory,the greatest barrier to economic development is

• A)technology.
• B)multinational corporations.
• C)capitalism.
• D)tradition.

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Definitions:

Interest Rate

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.

End of Year

A point in time marking the completion of a 12-month period, often used for accounting and evaluating annual performance.

Production Cost

Production cost refers to the total expense incurred in the manufacture of a product, including raw materials, labor, and overhead costs.

Rental Payments

Regular payments made by tenants to landlords in exchange for the use of residential or commercial property.