Which of the following should developing countries follow to modernize their economies?

A) Increase their tax rates
B) Allow citizens to own property
C) Restrict new businesses
D) Increase trade barriers

Developing Countries

Nations with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.

Modernize Economies

The process of adopting new technologies, implementing policy reforms, and updating infrastructures to improve a country's economic performance and productivity.

Own Property

The legal right or interest that an individual or entity has in an asset, allowing them to possess, use, and dispose of it.