Question

The coronavirus has affected large and small owned businesses, lists some of the serious ways businesses lost and benefited. Which businesses have been affected the most? Large White or Black businesses? Which race has benefited most from the Corona virus?

Part two:

In terms of welfare and distribution of income and employment, who gets hurts more:

Blacks or whites individuals? Who will get more government assistants use graph to compare who will get the most to least amount of welfare using the following people: white men, black men, white women, black women.

Use graphs to support your answers.

Clearly explain your recent gathered data using graphs

Answer 1

The coronavirus has affected large and small owned businesses. The ways in which businesses lost are:

* reduced production due to shutdown

* reduced manpower due to social distancing measures

* reduced profits due to lower demands and thus lower sales, while have the same level of costs.

The ways in which businesses has benefited are :

* IT companies benefited with increased productivity of employees due to work from home culture.

* Health care service providers benefited with increased demand for health services.

* Insurance sector benefited with increased demand for insurance policies.

Black businesses which were small and already unviable have been affected the most. Whereas, most of the black businesses are in health care services, social assistance services, retail trade of groceries and local necessity supplies etc. These businesses are working in the front line and facing the highest risk. While large white business has also suffered due to lockdown and downsizing policy adopted by them.

White race has benefited the most from corona virus as they sit at home aversing the risk of getting affected. They enjoy the highest % of wealth of the economy along with highest government assistance.

In terms of welfare and distribution of income and employment, black individuals get more hurt as they are not given equal value as given to whites. Government assistance will given to white men the highest and black women the lowest as can be seen from the graphs below.