Homework Answers of The Benefit of COVID19 Vaccine- CORP3544

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GLOBAL CONTEMPORARY BUSINESS ISSUES CORP3544 1
Global Contemporary Business Issues CORP3544
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GLOBAL CONTEMPORARY BUSINESS ISSUES CORP3544 2
Question 3
The benefit of covid19 vaccine availability to return business activity in developed
economies.
The benefit of covid19 vaccine availability to return business activity in developed
economies will positively impact business and the economy in general. Following the
shutdown for people to observe social distance had a negative impact on economies
globally. Therefore, following the availability of vaccines, the measures to Covid -19
restrictions were lessened , and the economies began to open slowly. However, there
have been variations in the supply and availability of vaccines where developed nations
had more access to vaccines than developing nations. This imbalance in access to
vaccines has had an impact on business, with developed countries benefiting while
lesser developed nations are facing negative consequences, as demonstrated in this
text.
The benefi t of covid19 vaccine availability to return business activity in developed
economies include reduction in death of employees, growth of GDP, and reduction of
expenditure on medication that can be channeled to consumption or investment. The
first benefit of Covid -19 availability to return business activity in developed economies is
the prevention of employees’ death. At the peak of Covid -19, it resulted in the death of
several people. Most of the people that died and are aged 18 to approximately 50
constitut ing the working population. Therefore, when these people die, the businesses
lose employees. Hence, the availability of vaccines means reducing the number of
people that will contract Covid -19 and those that die. Therefore, the labor market is
positively a ffected by the availability of vaccines. People are productive when they are
GLOBAL CONTEMPORARY BUSINESS ISSUES CORP3544 3
healthy, and therefore, a healthy population is needed for employment and generation
to the economy as a general.
The second benefit is the growth of GDP. Business activity in t he developed
economies will peak again. For businesses to function in an economy, both the supply
and demand sides of the market have to be functional. When economies were shut
down , and some people lost their employment, the demand for products and servic es
declined. This had a negative impact on the business as most of them, like those in a
service industry like hotels, recorded significant losses. However, with the availability of
vaccines and people going back to work, they will earn incomes, which they will spend
on goods and services; hence, the growth of economies will start to expand again. Apart
from the demand side of the market, the market’s supply side was also negatively
affected. There was a disruption in the supply chains. The disruptions inte rfered with the
movement of raw materials to industries, which led to a sharp decline in production of
some of the productions. Hence, the economy was contracting, but after vaccines and
things returned to normal, the economies are peaking again.
Third, the people’s expenditure on medication in the developed economies or
that of the government to treat people declines. The money that people would have
used for the treatment of Covid -19 is directed to either consumption, which positively
impacts the busine ss, or investment. When Covid -19 erupted, governments in both
developed and de ve loping economies prioritized dealing with the Covid -19, and huge
sums of money were set for Covid -19 treatment and research. Therefore, following the
vaccine availability, the resources that would have been used to treat Covid -19 patients
are directed to other development sectors in the economies.
GLOBAL CONTEMPORARY BUSINESS ISSUES CORP3544 4
The inequities of vaccine availability and healthcare provision on business in lesser
developed economies
However, there are inequa lities in vaccine availability and healthcare provision in
developing economies, negatively impacting these economies. Some of the ways these
economies are negatively affected include the death of employees, continued decline in
demand du e to Covid -19 measures and continued shrinking of economies. Starting with
employees, inequality of vaccines in developing economies has slowed the rate at
which people can access vaccines and health care, which has a negative impact on
people who continue to be affected by Covid -19. As a result of infections, the death
rates are also likely to soar, which negatively impacts the labor supply. If the working
population continues to be affected by Covid -19, the business will be negatively affected
as there wi ll be a shortage of employees when things return to normal.
Also, due to the low supply of vaccines in developing economies, lockdowns are
likely to extend. The lockdowns have a negative impact on business. When there are
lockdowns, both production and demand for goods and services are negatively
impacted, and revenues in business decline sharply. Even other businesses were
completely shut down during the Covid -19 period. Therefore, if access to vaccines in
the developing economies remains a problem, bus iness operations will remain
interrupted.
The last negative impact of inequality of access to vaccines in developing nations
is shrinking these economies. When the productions of goods in the goods market are
not taking place, the GDP is negatively affec ted. One of the notable impacts of the
Covid -19 is that most of the economies around the world shrunk. However, following the
GLOBAL CONTEMPORARY BUSINESS ISSUES CORP3544 5
discovery of vaccines and faster supply in developed nations than in developing
economies, the economies in the developed countrie s are recovering at a faster rate
than in the developing economies, where access to vaccines is still a problem.
Following Covid -19 ravaging economies around the world, the vaccines were
discovered, and operations in the economies began to return to norm alcy. However, the
return to normalcy was not the same as developed economies had more access to
vaccines than the developing economies. As a result, the business in the developed
economies benefited from this access to vaccines. Death rates among employee s were
reduced, the GDP grew again, and expenditure on Covid -19 declined. On the other
hand, developing nations have low access to vaccines. Their economies are negatively
affected as death rates from Covid -19 continue, there are still lockdowns, and more
funds are still directed to the treatment of Covid -19.

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