Economics for Business

Economics for Business

Executive Summary
Britain is a centralized design system which functions on a marketplace that perhaps the
government of a nation is partly regulated and run by. It operates for both consumers and
suppliers of goods and services in the market. Regulation from the authorities is effective when
there is an unprecedented event and human wellbeing is at a deteriorating risk. It is a globally
connected international economy with a strong capitalist system, a financial architecture and a
deeply interconnected social setting. As a part of the worldwide coronary virus outbreak, the
global economic downturn has had a dramatic effect. The UK economy has suffered significant
economic problems as a result of the closure and various state-imposed industry restrictions. The
economy has undergone major shifts in demand and in the exchange of goods. This is mirrored
in the varying differences in consumer purchases on supermarket products. This had produced
both positive and negative changes in the nation's infrastructure. Some forms of customer sales
have been expanded, while others have been limited. Owing to this extraordinary situation, the
country has been afflicted by distressing situations impacting the lives of its inhabitants.

Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
Task 1...........................................................................................................................................4
Task 2...........................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Customer expenditure in the sector is critical for the growth and growth of the economy. The
economic condition of a country is determined by the amount of product and consumer
purchasing. Uncertainty in the economic development of products and services is leading to a
change in global economy of the country (Draijer, 2020). The consumer force of production and
consumption are two formative forces for economic growth and stability. Therefore any
fluctuations or differences in customer demand on retail products get an effect on the particular
profitability. country overall. This can be observed during a coronary virus outbreak that leads to
a global economic slowdown. As a consequence, the United Kingdom has experienced various
racial changes in market retail demand, contributing to an economic contraction. The favourable
and unfavourable shift in competitive pressure for retail goods and services is discussed by
funding for studies into output and use.
MAIN BODY
Task 1
Over the epidemic, specific shifts emerged in UK market retail sales—
As a consequence of the spread of the corona virus, the UK has experienced significant
variations in commercial market prices in different economies. In the retail sector, strong and
harmful developments have arisen. The market is governed by a hybrid market and consumption
system where certain firms are owned and regulated by law and the equal allocation of supply
and demand powers on the economy is controlled and regulated by law.
Demand and Supply function
Economic policy, with core aspects including such abundance and preference, is tied to the
department of economy. It includes the fact that a nation's resources are limited and limited.
These resources such as land, manpower, capital and an investor considered to be a factor of
growth (Bakaev, 2020). As a consequence, due to lack of resources, customers must make
choices that require the opportunity cost, which is the next best alternative. As a consequence,
the customer's demand is determined by various factors, based on the finite resources, which lead
to the alternative. They prefer options for an optimal marginal profit and fulfilment. On the other
side, the availability of goods and services matches consumer demand. In order to attain market
equilibrium, manufacturers provide consumers with the benefit of money. At the equilibrium