Question

Question: What economic or financial changes do you feel you will personally see from our current economic environment and coronavirus situation?

Answer 1

We or I can see many economic or financial changes in the current economic environment due to coronavirus:

1. The level of inflation increases - Due to the shutting or closing of business and its operations, the production of goods and services decreases. The supply of goods falls and leads to an increase in demand and the price of goods and services.

2. The level of unemployment increases - Due to the pandemic and lockdown, many individual or workers loses their work. Shutting down the business forcefully by the government is the main reason for the increase in unemployment.

3. The growth rate of the economy falls very drastically - Due to the restriction on travel, the global economy shrinks and leads to a decrease in per capita income (GDP).