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How do you believe production costs have changed because of COVID-19 and why?

How do you believe production costs have changed because of COVID-19 and why?

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Answer #1

Production costs have changed because of Covid-19.

Reason: due to covid-19, for example, farmers are facing lack of workers in the field, this has impacted their supply. Due to less production, farmers are not able to earn profits and their production cost has been increased.

Also, due to covid-19 there are certain protocols that has to be followed in order to transport goods an services from one place to another. Increase in transportation cost also increased the production costs.

All the economic activities has been stopped due to covid -19 and as a result cost of raw materials, inputs, and others has been increased.

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