As students and everyone else knows, the Covid 19 Pandemic has forced many changes to business systems within Canada, and around the world.

Some of these changes are likely to be long lasting and in some cases perhaps permanent impacts to the business world.

• Part 1 of this Assignment asks you to think about and respond to the following questions about the five (5) Factors of Production, and how these influence and change business - especially since the since the Covid 19 pandemic has impacted the world. How has the Covid 19 Pandemic affected the five (5) factors of production for businesses? Students are to carefully think about this (use personal experience as you wish) and explain your answers. Ensure you discuss all 5 factors and describe the impacts you believe have occurred due to the pandemic. Are all of the impacts negative, or do you think that there may have been some positive outcomes forced on businesses (and countries) resulting from the pandemic? You need to justify your responses, try to answer utilizing concepts'The Laws of Supply and Demand' and the concept of 'Degrees of Competition'. If you are using external references these should be in your Bibliography and direct quotes need proper citations.
• Part 2 of this assignment asks you to respond to conceptsConducting Business Ethically and Responsibly. The specific question is "should businesses be allowed to reduce or vary their ethical conduct to ensure their survival through the pandemic?" One of the key areas of ethical conduct in business is the 'Responsibility to Customers'. Within this responsibility, Consumer Rights is a prime business issue with a number of key business codes (six are detailed in the text) and described in your lecture and class notes. Can you describe a situation under the current pandemic conditions where you believe a company "might be allowed" to violate any of these responsibilities? Is there any way to justify this behaviour given the challenging business environment that currently exists? Carefully explain your answer.
• Part 3 of this assignment asks students to describe how some (or many) items have increased in price from the onset of the Covid 19 pandemic, this question relates to Pricing, Promoting and Distributing Products. A number of consumer items (food, clothing, personal electronics and many others) have shown sharp price increases through the global pandemic. Students are to identify at least three items where they have noticed price increases and explain why they think these price increases may have occurred. Are these price increases justifiable or are businesses taking advantage of consumers using the pandemic as an excuse. Use of personal examples is acceptable, but carefully think about your answer and justify your position (remember, some price increases may be unavoidable for businesses).