The Process of Increasing the Productivity and Standard of Living

question 116

Multiple Choice

The process of increasing the productivity and standard of living of a society is called:

• A) Westernization.
• B) modernization.
• C) industrialization.
• D) development.

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Definitions:

Duress

A situation where a person performs an act as a result of violence, threat, or other pressure against them.

Rescission

The revocation, cancellation, or repeal of a contract, returning the parties involved to their positions before the contract was made.

Contract of Adhesion

A standard-form contract prepared by one party to be signed by another party in a position of weaker bargaining power, often not negotiable.

Fraudulent Misrepresentation

The act of intentionally providing false information with the aim of deceiving another party, often to induce them into a contract.