IMPACT OF INFECTIOUS EPIDEMIC ON INTERNATIONAL MARKET
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IMPACT OF INFECTIOUS EPIDEMIC ON INTERNATIONAL MARKET
ABSTRACT
This study looked at how an infectious outbreak would affect the global market. an example of a coronavirus. There are 200 CBN employees in Abuja that make up the study’s overall population. Questionnaires were utilised by the researcher as the instrument for gathering data.
For this study, a descriptive survey research design was chosen. The study included a total of 133 respondents made up of administrative staffs, economists, senior staffs, and junior staffs. Simple percentages and frequencies were used to analyse the data, which were presented in tables.
INTRODUCTION
BACKGROUND OF THE STUDY
Globally speaking, COVID-19 is a humanitarian issue. In the fight to preserve lives, the virus’s continued global spread puts health systems under unprecedented strain.
As the virus spreads to lower-income nations with less developed healthcare systems, the tragedy’s human impact is only going to get worse.
Uncertainty surrounding COVID-19 presents additional difficulties, including concerns over the scope and rate of infection, the length and scope of shutdown measures,
the prospects for treatments to better manage symptoms, allowing health services to concentrate only on the most serious cases, and the danger of “second wave” infections as the virus spreads around the world.
Countries are falling victim to the virus in waves, and they will recover at different times. What is certain is that the virus and its aftereffects appear to be here to stay for a while (read.oecd-ilibrary.org/view).
Maintaining trade is clearly necessary to both assure the supply of necessities as well as to project confidence in the world economy. Trade is crucial to preserving both lives and means of subsistence.
However, maintaining commerce requires cooperation and trust in a number of areas, such as that the market will provide necessities, that nations won’t impose export restrictions, and that imports don’t pose health hazards.
The international trading system was already exposed to an increased number of new restrictions and distortions, from tariff rises among big merchants to strong government backing in important sectors, making this a particularly difficult task at a time of trade tensions.
Mobility constraints have made it more difficult for continuing negotiations to control and avert conflicts. But it is more crucial than ever to prevent an escalation of the current trade hostilities given the significant economic hardship caused by COVID-19.
STATEMENT OF THE PROBLEM
It’s critical to consider not just the virus’ epidemiological profile but also how people, businesses, and governments might react to it in order to gauge the coronavirus’ potential economic effects.
Supply chains, demand, and financial markets will all have an impact on COVID-19’s ability to directly effect company investment, consumer spending, and global trade.
And it will do it both through the application of potentially high degrees of uncertainty and conventional, textbook supply-and-demand methods.
OBJECTIVES OF THE STUDY
The study’s aims are;
determining the threat of the coronavirus on the global market
To determine the connection between the coronavirus and the global economy
To determine the issues facing the global market during this time of pandemic
RESEARCH HYPOTHESES
HO: The coronavirus is not a threat on the global market.
Hi: The coronavirus is a menace on the global market.
SECOND HYPOTHESES
HO: During this outbreak, there are no problems on the global market.
Hi: The current pandemic time is accompanied with obstacles on the global market.
SIGNIFICANCE OF THE RESEARCH
Both students and the broader public will benefit from the study. The study will provide a comprehensive understanding of how infectious epidemics affect the global market.
an example of a coronavirus. The investigation will shed insight on the coronavirus’s economic significance. The work will also be used as a resource by other researchers who may pursue a similar subject.
SCOPE AND LIMITATIONS
The influence of an infectious epidemic on the global market is covered within the study’s purview. The study’s scope was constrained due to a constraint the researcher encountered;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher’s access to suitable research material limits the investigation.
b) TIME: Because the researcher must juggle the study with other academic obligations and exams, the time allotted for the investigation does not improve wider coverage.
1.7 DEFINITION OF TERMS
Market outside of the United States: Global marketing is defined as “marketing on a global scale resolving or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.”
Coronavirus: Coronavirus disease (COVID-19) is an infectious illness brought on by a coronavirus that has just been identified. Most COVID-19 virus-infected individuals will experience a mild to severe respiratory infection and recover without the need for special care.
Serious sickness is more likely to strike older persons and those with underlying medical conditions including cancer, diabetes, cardiovascular disease, or chronic respiratory diseases.
World economy or global economy: The world economy, often known as the trade of commodities and services across international borders expressed in monetary units of account, is the economy of all people living in the world.
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