Question

how covid-19 has effected economy? in brief ​

Answer 1

Answer:

covid 19 was first affected in China

Explanation:

through China it was affected in India

Answer 2

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Step by step explanation:

COVID-19 has affected the global economy in many ways :

According to International monetary fund the world's economy declined by 3 per cent in the year 2020.

• Covid had forced people to sit home and industries and factories to shut down this led to falling of production level and GDP of a country.
• Companies and industries suffered heavy losses due to shut down they started out employees at low level or giving low wages and salaries due to many left jobs and it creates a environment of unemployment
• Due to lockdown imposed globally there is decline in travelling or tourism so ,oil industry suffered heavy losses and country like Iran,Iraq ,Saudi Arabia,Kuwait and Abu Dhabi whose country economy depends upon oil gets shrink fastly.Globally 60% falling down in oil demand .
• There is also distribance in food chains due to pandemic which led to falling down of food production by 2.6% According to International monetary fund (IMF)