Modernization Refers to the

question 47

Multiple Choice

Modernization refers to the

• A)elimination of old housing and its replacement with modern skyscrapers.
• B)process by which a society moves from traditional or less developed institutions to those characteristic of more developed societies.
• C)colonial domination of Third World nations by Western powers.
• D)process of development that,at this time,has occurred only in core nations such as England,France,Japan,and the U.S.

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Definitions:

Portfolio

A collection of investments held by an individual or institution, including stocks, bonds, commodities, and other financial instruments.

Stock T

A hypothetical or generic stock used in financial examples or educational contexts to explain stock market concepts.

Common Stock

A type of security that represents ownership in a corporation, includes voting rights, and entitles the holder to dividends.

Recession

A temporary phase of economic downturn characterized by decreased trade and industrial activity, typically recognized by a decline in the Gross Domestic Product (GDP) for two consecutive quarters.