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Corona Virus and Migration

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Corona Virus and Poor People

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Economic Future & Corona Virus

Hi, I'm Dattatray Today I'm going to tell you all about the impact (Current and Future) of COVID-19 on the economy. Specifically DEMAND & SUPPLY.

What are the current and future impacts of COVID-19 on the economy ( Demand, Supply, Production, Employment, Price)?

1) Demand -

As you know or you can see since our government had announced the lockdown, Demand has been increased. People are getting panic and they bringing goods, material, Kirana and other things at home from the local market, Kirana, stores, medical and another local platform.

D>S (Demand is more than Supply)

2) Supply -

In the current situation, we can say there is no Supply in local areas, the government or people can't supply goods or stock in local areas because COVID-19 and Lockdown .

S= 10% 20% (S<D)

3) Production -

There is no production in lockdown.

P=0 (P<S/D)

4) Employment -

Businesses or industries don't have incomes so they don't want to create more jobs opportunity because they might be don't want to invest or give their money to others in critical condition. This will be risky, but as you can see there will risk to lose jobs. (Don't worry government said nobody discard or withdrawal their employees jobs.)

5) Prices -

We can say Price is stable in the current situation, But not for all products there are some products like masks, the price has been increased in COVID-19 situation.

Future Impact

1) Demand -

If there is high demand in the future then we ( government ) have to increase our Supply.

According to this situation, there will be a high chance of low Supply Because currently the production has stopped.

S<D

3) Production -

There will be a high chance to increase production because in the current situation there is no production and in the future, we have to supply more products and goods in local areas and the whole country. As well it depends on demand.

4) Employment -

At this point, I'm talking about employment creations. I don't think there will more space for employees or workers, but yes there will be a little bit of space or opportunity for employees or workers. It depends on demand, production, COVID-19 situation, Supply, and stock.

5) Price -

If the government or industries, businesses will fall to make or create sufficient production and will not Supply enough products/goods in local areas or the whole country then there will be a very high chance to increase prices.

P>I

6) Cryptocurrency -

You can take advantage of currency exchange while keeping your money into another currency still Market grow up. When the market grows you can sell your currency with a high exchange rate to make your profit.

Conclusion -

The future of the economy depends on current COVID-19 and other factors like Demand, Supply, stock, production, and more.

The situation like prosperity after a recession. How much economy decreases, that much economy will be increased in the future rather than decrease. Prosperity after the recession it's all happens automatically in the economy.

Disclaimer-

This information was written by me (Dattatray) on my own Research, Experience, and Data.

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