MM29 Economics Assignment

The outbreak of the COVID-19 coronavirus pandemic which became publicly recognisedin end-January 2020 has affected many economies worldwide. The pandemichas impacted the global hospitality and tourism industry directly and has been disrupting global supply chains since then, adversely affecting many countries around the world.As a Researcher working for a localAcademic Institution, you have been tasked to conduct a research and prepare a 2-section report on the impact of the COVID-19 coronavirus pandemiconONE (1)of the following countries:a)Singaporeb)Malaysiac)Chinad)Spaine)United States of AmericaIn the first sectionof the report,discuss the following:1)Identify and research on ONE (1)product which saw extreme changesin demand and/or supply during the pandemic. Assuming that everything else remains constant, evaluateand illustrate using the demand/supply model(s)to predict how the equilibrium price and quantity of the product will change.2)Research and describehow thepandemic had affected ONE (1)key industry in the country chosen.In the second sectionof the report, discuss the following:1)How the pandemic impactedthe production activities of the country. You may research and discussbased on the trendsof relevant GDP-related indictors before and after the outbreak of the pandemic.