ECON1025: During the (COVID-19) Pandemic, the Singapore Government issued lockdown measures and Travel Limitations that Seriously Diminished the Trade of Some Small Organizations: Prices & Markets Assignment, RMIT, Singapore

During the (COVID-19) pandemic, the Singapore government issued lockdown measures and travel limitations that seriously diminished the trade of some small organizations. Singapore’s government is worried about business terminations, loss of pay, and joblessness in the business sectors concerned and is thinking about further interventions particularly as the risk from the infection is starting to die down.

Using the demand-supply model, explain these phenomena in the relevant and related markets of your choice. Advise which market interventions, if any, the government should conduct in these markets and why. In this report, I will analyze the economic impact specifically on the retail segment and market in Singapore.