In 2020, a pandemic (COVID-19) hit the world. This led to lockdowns in many countries. Several businesses advised workers to work from home, some laid off workers and some even closed down. Many countries closed their borders to prevent the spread of COVID-19 and trade became a major challenge. With reference to the above, select an organization in Fiji and discuss the impact of COVID-19 on their production and pricing of goods/services. Guide:

How has COVID-19 affected the demand? (6 marks)

How has COVID-19 affected the supply? (6 marks)

Discuss the impact of COVID-19 on its price and market equilibrium. (6 marks)

Discuss the strategies undertaken by firms and government to overcome shortage or surplus. (6 mark