During the novel coronavirus (COVID-19) pandemic, the Singapore government introduced

lockdown measures and travel restrictions that severely reduced the trade of many small

businesses. Singapore government is concerned about business closures, loss of income and

unemployment in the markets concerned and is considering further interventions especially as the

danger from the virus is beginning to subside. Using the demand-supply model, explain these

phenomena in one or two markets of your choice. Advise which market interventions, if any,

government should conduct in these markets and why.