Question

what goods or services might be affected ( by the coronavirus) that could increase or decrease your consumption spending? ( provide specific examples)

Answer 1

Corona Virus would affect demand for many goods and services through the changes in consumer spending.

Spread of Corona virus caused a decrease in the consumption of travel, ready made food and beverages. Consumption of entertainment goods would also experience a fall due to the fear of potential exposure.

On the other hand, goods like masks and emergency medicines would experience an increase in demand due to increased consumer spending on these goods.