Economics -- Week 12, Part D

Leaders of developing nations use either a socialist or a capitalist model of decision making. Regardless of which model the leaders use, however, they must establish development plans to guide the use of their scarce resources.... Leaders of developing nations use either a socialist or a capitalist model of decision making. Regardless of which model the leaders use, however, they must establish development plans to guide the use of their scarce resources. In creating these plans, leaders must consider all the production possibilities and trade-offs related to a proposed course of action. Developing nations rely on both domestic and foreign funds to finance economic development. VIDEO OBJECTIVES - Describe the advantages and disadvantages of the socialist and capitalist models of decision making - Describe the types of aid that governments of developed countries extend to developing countries - Identify the key public sources of foreign aid
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