Question

Topic: What's the economic consequence of the Covid-19?

1. Introduction (what happened?)

2. Brief literature review with reference (what did other people say about this?)

3. Your opinion/idea/solution (what do you want to say about this?)

Answer 1

World is right now going through a global pandemic , which has effected every corner of the world , and not for good. The pandemic is a result of the spread of the corona virus or Covid 19, and the worst hit are the humans . The virus has shown signs of spreading majorly through human to human contact. The result of which is , to survive, we need to restrain ourselves off any meets.

Following the impact of Covid 19, economy is the worst hit, which may be in any country of the world. The worst hit are the underdeveloped nations, where the governance or finances are not sufficient to sustain the lockdown scenarios. The developing or the developed worlds are also not far from the outreach of the virus.

To be more specific of the Economic impacts, all the activities supporting the livelihoods , international trades and every possible activity which yielded money through interaction of humans and supplimented enough credit for human survival in the terms of wages and profits , has seen a serious hit. Other Economic activities like entertainment industries like media and sports saw a complete shut down. The world interdependent trade market saw a miss balance , causing a high supply or high demand disequilibrium all over the world. The only working class is the medical agencies , police and municipality , who are working extra shifts to keep everything normal, and current wage providing enough for the services is questionable. Hence summarising , the world economy has taken a major hit , where the working machinaries sustaining it are unable to function because if hostile environment.

There are many agencies across world who are giving in detailed analysis of how the economy across the world is going to face a slump. World health organization (WHO) was the first to bring out the information of worsening impact of Covid 19 and declared it a pandemic. Further organisation like world economic forum has predicted a falling in GDP across world due to shutdown, WTO has constantly reported the falling trade levels making the importers and exporters both vulnerable and the list of references goes on.

Concluding , it must be taken in mind while analysing such grave conditions that this is a time of world pandemic. The saving of human lives is the primary focus in today's time. Having said this nature of human is to never stop, so the need of the hour is to exploit technology to the fullest , keeping interlinking maximum and make the most out of current situations. It is also important to not be bogged down by current scenario and compare it with past economic growths . These are super normal conditions and to come out of it, we need to world together with progress and continuous innovations and alternatives.