ecol'lZex'lst'l (I)There is consensus that all societies face the same fundamental economic problem. Explain the nature of this problem and why, in the light of this consensus, there are differences in economic systems. [Hintz Your response should be one page long with three paragraphs ---the fundamental economic problem, the fundamental economic questions & the alternative economic systems] (2)Consider the following equations that dene the market for commodity Z. Q=-6+6P ................ (1) 2 Q=50-2P ................ (2) (a)Which of the two equations is the demand equation and which is the supply curve? How did you know? (b)Sketch the demand and supply schedules for 0