The Covid-19 Epidemic and its Profound Effects on Global Economy

Pages: 243-246
Gurinayat Brar1, Kismat Dosanjh2, and Inaksh Kaur Saran3 (BSc Economics, University of Warwick, Coventry, Uk1, Class- XI, Strawberry Fields High School, Chandigarh2, and Class- XII, Vivek High School, Chandigarh3)

Coronavirus pandemics have spread over the globe. As a result, national economies and businesses are seeing the impact of the virus, which has left governments scrambling to come up with new strategies to contain it. Hundreds of thousands of individuals have been out of work or reduced in income. Joblessness has risen in almost all of the world’s economies. Covid-19 has influenced our daily lives, businesses, and the global trade and movements in ways that have dramatically impacted the planet. To be able to keep the virus from spreading as quickly, it is important to identify the disease as early on as possible. Manufacturing of the products has all but come to a halt in the majority of countries. As a result of this sickness, a wide range of companies and sectors are affected, which include the pharmaceutical industry, the solar power industry, the travel industry, and the Information and electronics industry. This virus has major worldwide consequences as well as impacts on daily lives. The following studies represent the effect of covid-19 on the global economy.