The Assumption That Developing Nations Can Follow the Western Path

question 109

Multiple Choice

The assumption that developing nations can follow the Western path to wealth through industrialization is basic to:

• A) world-systems theory.
• B) conflict theory.
• C) third-world development theory.
• D) modernization theory.

---

Definitions:

Long-term Liabilities

Financial obligations of a business that are due more than one year in the future, such as bonds payable or long-term loans.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations or those due within one year.

Current Liabilities

Financial obligations a company is required to pay within one year, such as accounts payable and short-term loans.

Accounts Payable

Liabilities owed by a business to its suppliers or vendors for goods and services purchased on credit.