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Modernization theory identifies which of the following as the greatest barrier to economic development?
Business Laws
Set of rules and regulations that govern the formation, operation, and dissolution of businesses.
Contract Laws
Contract laws are the body of laws that govern the formation, execution, and enforcement of agreements between parties.
Business Ethics
The study and examination of moral and ethical principles in the business environment.
Law
A system of rules and guidelines which are enforced through social institutions to govern behavior.
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