Covid-19 started a derived demand, for instance, the high demand for hand sanitizer led to the...

Covid-19 started a derived demand, for instance, the high demand for hand sanitizer led to the derived demand of the isopropyl alcohol market .

What are some other covid- 19 derived demand, beside facemask ?

Definition of "Derived Demand"

Derived demand is a term in economics that describes the demand for a certain good or service resulting from a demand for related, necessary goods or services. For example, the demand for large-screen televisions creates a derived demand for home theater products such as audio speakers, amplifiers, and installation services.

Solutions

Expert Solution

Answer: As it has been mentioned in the question itself , Derived demand is a term in economics that describes the demand for a certain good or service resulting from a demand for related, necessary goods or services. For example, the demand for large-screen televisions creates a derived demand for home theater products such as audio speakers, amplifiers, and installation services.

Similarly Covid-19 started a derived demand, for instance, the high demand for hand sanitizer led to the derived demand of the isopropyl alcohol market, face masks apart from these two there are other derived demands associated with it are:

1.PPE kits in the hospitals along with ventilators in the hospitals.

2.Demand of medicines which boosts immune system, reduce fever,cough cold and other some specific medicines which proving influential like HCQ, Lopinavir etc

3.Demand for some traditional immunity boosting tea made of ginger, tulsi,blackpepper,turmeric etc.

4.Items required for sanitizing public places.

5.hand gloves,soaps etc

Hope it helps!

Please do upvote.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

What are some strategies to control the shortage of hand-sanitizer in COVID-19 pandemic and how do...

What are some strategies to control the shortage of hand-sanitizer in COVID-19 pandemic and how do they impact consumer and disease control?

Consider public policy during COVID-19: a. Recent data shows that the elasticity of hand sanitizer is...

Consider public policy during COVID-19: a. Recent data shows that the elasticity of hand sanitizer is about 0.4 percent. The current price of sanitizers is $5. Let suppose that government want to increase the usage of sanitizers by 20 percent. Please identify by how much should the price of hand sanitizers should change? b. To promote the culture of health and safety. The government wants to curb the usage of products affecting the immune system of its’ people. Government decide...

In the wake of COVID-19, the Hand Sanitizer and Masks market has seen much higher prices....

In the wake of COVID-19, the Hand Sanitizer and Masks market has seen much higher prices. What shift in demand or supply is most likely to explain this outcome? Sketch a demand and supply diagram and explain your reasoning for each. A rise in demand A fall in demand A rise in supply A fall in supply

Use the product/industry for toliet paper or hand sanitizer.' Discuss the impact COVID 19 is having...

Use the product/industry for toliet paper or hand sanitizer.' Discuss the impact COVID 19 is having on demand for the product or industry you have chosen. What factors are causing demand to shift? Explain at least two of these factors. Is demand increasing or decreasing for the product? Discuss the impact COVID 19 is having on supply for the product or industry you have chosen. What factors are causing supply to shift? Explain at least two of these factors. Is...

Refer to the article. The demand for hand sanitizer at the moment would be considered __________...

Refer to the article. The demand for hand sanitizer at the moment would be considered __________ and as Prices rise Total Revenue would ___________ Select one: a. Inelastic : Increase b. Elastic : Decrease c. Inelastic : Decrease d. Elastic : Increase Prices of hand sanitiser have increased by 120% and Quantity Supplied has risen by 80%. Therefore the price elasticity of supply is :; Select one: a. 1.5 elastic b. 1.5 inelastic c. 0.67 Elastic d. 0.67 Inelastic The...

In the diagram below, S0 and D0 are the supply and demand for hand sanitizer before...

In the diagram below, S0 and D0 are the supply and demand for hand sanitizer before the onset of COVID-19. The onset of COVID-19 caused the demand for hand sanitizer to shift out to D1. In the short run, supply is fixed at level Q0, and in the long run the supply schedule rotates down to S1. Assume S0 is given by QS = -1.5 + 0.25P and D0 is given by QD = 4.5 - 0.5P. Further assume that...

The COVID-19 crisis has led to unprecedented shock to the state of the macroeconomy. Use the...

The COVID-19 crisis has led to unprecedented shock to the state of the macroeconomy. Use the IS-LM curves as well as the AD-AS curves to show how the economy will correct itself if prices are sticky or sluggish. Compare this to how the economy will correct itself when we assume prices are flexible or adjust easily over the course of a year. In one or more paragraphs explain what should happen when the economy corrects itself under each scenario. Also,...

The COVID 19 pandemic and the associated lockdown has led to an increase in aggregate prices...

The COVID 19 pandemic and the associated lockdown has led to an increase in aggregate prices of food in Ghana. Using your understanding of (a) the fundamental causes of inflation, (b) the aggregate demand and aggregate supply curve (LR and SR) shifts, provide your sound reasoning for why this aggregate food price increases could have happened in this season.

The COVID 19 pandemic and the associated lockdown has led to an increase in aggregate prices...

The past two months have led to an abundance of information on the novel disease COVID-19...

The past two months have led to an abundance of information on the novel disease COVID-19 and the virus that causes this disease, SARS CoV-2. Describe your understanding of the physiology of the disease on any of the systems of the body and how our understanding has changed. Because the seriousness and enormity of the pandemic, the rush to make recommendations on the treatment of the disease has led to poorly researched recommendations. Give an example of a bad recommendation...

Subjects