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.