Short eassy. Finish within 30mins This is online exam. Dont have more time

Question Description

Essay (50 points) = Mandatory in at least or a minimum of 200 words.

1- Question- Discuss fully each of the factors of production and then the technical terms scarcity and productivity to argue how do they limit the nation’s ability to produce wealth? Using the fundamental questions and answers model applied to all economic to elaborate on ways or how do all economic systems ask and answer 5 (five) issues in the process of solving the problem of resource scarcity.

Make sure that you raise each question then give a complementary or related answer to the description of each of these issues faced by any nation to satisfy the needs of society’s members. Furthermore, wherever it applies to make sure you define fiscal and monetary policy and how they are used specifically (expansionary or contractionary) to halt either inflation or recession?

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