The COVID-19 pandemic resulted in the demand and supply of medical supplies such as face masks, gloves, gowns, hand sanitizers and ventilators changing. Using the demand and supply model, explain theoretically and empirically these changes.

1. Explain how demand for medical supplies has been impacted since the COVID-19 pandemic started. Use hypothetical and empirical examples.
2. Explain how supply of medical supplies has been impacted since the COVID-19 pandemic started. Use hypothetical and empirical examples.
3. For hypothetical examples, you could discuss shifts in demand and supply curves and excess demand.
4. For empirical examples, review journal articles on how the Covid-19 pandemic has impacted medical supplies.
5. What conclusion can you draw from your analysis