Economics And Covid-19

subject Type Homework Help
subject Pages 3
subject Words 1089
subject School Georgia Institute of Technolog
subject Course Macroeconomics

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Economics and covid-19
Covit-19 is global pandemic and it has effect on every country. Everyone cares about health
and when there is a risk for life governments have to make the decisions which may damage
economic. The impact of the pandemic, which is of course negative, varies from country to
country, it most likely to increase recession, unemployment and poverty. Covid-19 closed
economics and while today countries are more connected each county face problems and
everyone is suffering at the same time.
Very first period when the virus spread uncontrollably was the hardest one. It was SHOK for
many countries and they were unprepared for the pandemic. The size of Covid-19 has huge
economic impacts including the costs of managing the health of people, stopping virus, and
keeping the economy working. Restaurants, shops, transports, parks etc. all were closed where
people spend money and when in that sectors were no incomes stuff became unemployed.
Also all countries closed borders so tourism dead. As we know GDP is sum of consumer’s
spending, investments, government spending and net export. The first one C decreased in
every county. Population of the whole world reviewed their spending habits and for example,
discussed China which was not an exception. COVID19 has changed a lot of things in millions
of lives as well as household consumption. During pandemic, when number of cases were
increasing households started to radically change their spending in particularly all the
categories. On basis such as groceries, household supplies, personal-care items spending
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