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    PT Applied Economics

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    PonchoGst

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    © All Rights Reserved
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    PT Applied Economics

    Uploaded by

    PonchoGst
    18 views3 pages

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    Pt Applied Economics

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    18 views3 pages

    PT Applied Economics

    Uploaded by

    PonchoGst

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    APPLIED ECONOMICS

    REFLECTION PAPER

    The Covid-19 Pandemic has greatly impacted our Country Economy it change the pace of
    our production of resources such as land, labor, capital, and our entrepreneurships. These
    things are the most crucial thing required for our economy growth, The Pandemic has
    given both positive and negative to our economy Starting with its Positive and Micro Effect

    First it that it allowed many industries to go into


    digitalization making them adapt and find new
    opportunities to grow their businesses Next it that
    it allow flexible work times as it became more
    common this lead to a great work-like balance for
    some people lastly is that it some industries, such
    as healthcare-commerce and delivery services saw increase demand for their
    Product and service, this lead to business growth and makes new job possible. If there are
    positive there are also negative effect of it
    according to an article I read the pandemic
    disrupted the supply chain and logistics of
    product because of the lockdown, reducing
    the availability of raw materials and inputs for
    production it also reduced the demand of
    good and service due to the low consumer
    spending resulting in lower sales and profits
    for businesses some enterprise also struggles
    to cope with the economic downturn with so that they are forced to close down and filed
    bankruptcy now the macro effect of the pandemic affected the country lets start with it
    positive effect since the pandemic started the government launched a series of economic
    measures including financial aid to households and businesses and infrastructure spending
    to support economic recovery the BSP also implemented monetary policy measures to
    support credit flow and liquidity reducing borrowing costs for businesses and individuals
    and after the vaccine got release and the vaccination rollout began on 2021 it led to a
    rebound in economic activity. Though the economic when up but during when the
    pandemic started our GDP contracted by 9.6% in
    2020 its worst decline in decades according to
    BBC due to it restriction on economic activity to
    control the spread of the virus and the during
    April 2020 an unexpected Rate of 17.7% of
    Filipinos are unemployed as many businesses
    closed down operations it also redacted the remittance from overseas Filipino workers a
    major source of foreign exchange and household income

    The Conclusion is that the pandemic affected our country economy positively and
    negatively throughout labor, land, entrepreneurship, and our capital the governments
    response it to take care of ongoing vaccination efforts to bring back the economy to
    normal.

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