Question

In current situation in the world, in this
pandemic, what will be the demand of a
rational consumer
and how it has changed in
the past five months?
Explain with
app.diagram in maximum 500 word​

Answer 1

Answer:

COVID-19 has changed nearly every aspect of our daily lives, and consumer spending is no exception.

Generally, spending is down across all industries, as lockdown measures have restricted what we can spend money on, due to restaurants and shops being shut and air travel suspended.

Equally, the economic consequences of the coronavirus pandemic have meant consumers are less inclined to spend more, with many expecting their household income to continue to fall in the coming months.

Time spent indoors however, has caused us to spend more on home entertainment and groceries.