am 1 Essay Questions 1. Describe 5 trends that you think will have the biggest impact on businesses in the future. Explain whv these will be the most important. 2. Give three examples of the four factors of production. Describe how each factor of production is used in each example. 3. Compare and contrast regulated economies and deregulated economies. Give examples of how the Federal Reserve induce economic growth and how the Federal Reserve can slow economic growth. Do vou agree with government intervention in economies? 4. How did the global economic crisis of 2003 unfold? If vou were the President of the United States. how would vou respond to the 2003 housing crash in the United States? 5. What is the difference between scal and monetarv policv? What role does polics plav in shaping these policies? 6. Explain the difference between capitalism, socialism, and communism. Using the United States as the example. explain how citizens would benet from a purely capitalistic economv, and how citizens would benet from socialism. In your opinion. make an argument for the economy that best suits the United States in 2021