Education

5000 CASH COVID-19 ESSAY CHALLENGE

Written by Bootinfos

Essay Writing Competition

TEAM Spirit Plus Fire calls for entries from Undergraduate students nationwide.

Topic:

In the light of this pandemic, Discuss how the dreaded Covid 19 virus has affected the economical sector.

*Eligibility*

Age:16-30

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The Essay should not be more than 1200 words.

 

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11 Comments

  • My name is Enwerem Kingsley.. I am a student of federal University Of Agriculture, Abeokuta.A 400 level student.. I am studying environmental management and toxicology…. Covid-19 outbreak has since spread to countries and territories. The infection has entirely driven from human to human transmission which made the government to force her citizen to sit at home for the prevention against the viirus, to prevent contacting it and to reduce spreads…The disease and sickness has made our economy to fall..No working activities to raise money for feed,some even depend on their daily activities for their provisions,it has really affected our citizens which made people to involve themselves in all form of robberies…. Even foodstuffs are not much in our country because their are no more foreign importations and foreign exchanges all borders closed!!… Thanks to all those that have in one way or the other donated money for her citizens and to the country for the betterment and fights against this disease (Coronavirus)… Thank you..

  • My name is Enwerem Kingsley.. I am a student of federal University Of Agriculture, Abeokuta.A 400 level student.. I am studying environmental management and toxicology…. Covid-19 outbreak has since spread to countries and territories. The infection has entirely driven from human to human transmission which made the government to force her citizen to sit at home for the prevention against the viirus, to prevent contacting it and to reduce spreads…The disease and sickness has made our economy to fall..No working activities to raise money for feed,some even depend on their daily activities for their provisions,it has really affected our citizens which made people to involve themselves in all form of robberies…. Even foodstuffs are not much in our country because their are no more foreign importations and foreign exchanges all borders closed!!. Even in the country things are high in price, all goods/foodstuffs are increased in price…. Thanks to all those that have in one way or the other donated money for her citizens and to the country for the betterment and fights against this disease (Coronavirus)… I will urge our government to quit this staying at home so as to enable citizens to find her daily needs.. we can abide by the rules..1. sanitizing our hands 2. Using nose mask and social distancing till everything is over…..Thank you..

  • In the Light of this Pandemic, Discuss how the dreaded Convid-19 virus has affected the economic sector.

    A Pandemic is an outbreak(of a disease) prevalent over a whole country or the world. It means occurring over a wide geographic area and affecting an exceptional high proportion of the population.
    Convid-19 disease(Coronavirus disease) is an infectious disease caused by a newly discovered Coronavirus. This Convid-19 virus are viruses that circulate among animals with some of them also known to infect humans. For instance Middle East Respiratory Syndrome Coronavirus (MERS-COV) is transmitted to humans from camels and Severe Acute Respiratory Syndrome Coronavirus-1 (SARS-COV-1) is transmitted to humans from Civet cats.
    The Convid-19 virus spreads primarily from droplets of saliva or discharge from the nose when an infected person coughs or sneezes. Difficulty in breathing, dry cough, fatigue, fever, aches and pains, runny nose, sore throat and diarrhea are some of the symptoms of Convid-19.
    The unprecedented impacts and disruptions as a result of Coronavirus known popularly as Convid-19 is affecting all economics and markets globally. It is caused by the SARS-COV-2 and has continued to grow with more than 175 counties and territories reporting cases. There are currently 1,604,718 global confirmed cases and 95,735 deaths from Convid-19 outbreak(pandemic) as of April 10,2020, 03.37 GMT with 305 confirmed cases and 7 deaths in Nigeria.
    A lot of economic data and situation on financial markets indicate that Coronavirus may be the main driver of economic growth in the global economy in 2020. A significant decline in economic growth is forecast in many countries in 2020 due to an increase in human Coronavirus infection. According to many healthcare centers and institutions, an effective, tested Convid-19 infections may not appear until mid-20 or later. Until then, the number of Convid-19 infections may increase significantly.
    In China, many countries has stopped production due to an increase in Convid-19 infections. In many countries, tourist traffic is already falling, the number of tourists is rapidly decreasing. Countries( France, Spain, US, China) in which international tourism constitutes a significant share of Gross Domestic Product (GDP) are particularly vulnerable to the decline in economic growth.
    A significant decrease in international trade is also forecast in countries where many cases of human Convid-19 infection have been diagnosed. In recent days (early Match 2020),there have been major drops in the valuation of securities on stock exchange, which is also a signal confirming the forecasted next wave of decline in economic growth in 2020.
    Until recently, in 2019, the so-called trade wars conducted between the largest economies in the world (USA, China and the European Union). However, this factor is apparently already becoming less relevant to the global growing problem associated with the continuing(early March 2020)increase in human Convid-19 infections. Therefore, in 2010, Convid-19 will be the most important factor slowing down economic growth.
    Since the end of 2018,thete have been symptoms of a slowdown in the global economic growth. In 2018-2019, the so-called trade wars waged between the largest economies of the world (US, China and the European union). However, at the beginning of 2020,anorhet important determinant (CONVID-19) appears to be the continuation of the slowdown in the economy’s economic growth.
    Currently, mainly in China, production has stopped in many factories. A significant drop in economic growth is expected in 2020 in China. As a result, the scale of international economic exchange will fall, then the level of economic growth in the global economy may drop significantly.
    In the last week of February, 2020, stock exchanges experienced the largest, most strong and dynamic drops in share prices since the stock market crash if mid-September 2008 i.e. the stock market crash from which the global financial crisis began. The stock market crash of mid- September 2008 was triggered by the bankruptcy of the fourth largest investment bank in the world, a bank with over 100 years of Lehman Brothers history.
    Global economic and financial markets are shaking. The impact of Convid-19 that started in China at the beginning of 2020 is hitting economics hard. Global equity markets have seen indexes fall into negative regions. There are fears of supply chain disruptions and cutbacks in demand and supply paint an ugly picture of manufacturing sector revenue decline as well as profit reductions in the first quarter (Q1) 2020 and even beyond. Yet some skeptics still wonder how a virus could be linked to economic growth.
    More so, the World Health Organization (WHO) has pushed out sufficient information about the Convid-19, except that the virus can lead to a global economic meltdown. But experts are aware that the economics of the deadly virus is gradually corroding global demand and supply number of business ‘catch’ the bug.
    Indeed, demand is falling off as buyers of goods in China and the rest of Asia hold off new orders, production cycles are a calling downwards as manufacturers hold back from increasing inventories and fresh spending on inputs.
    The Convid-19 is not just having implications for the health sector, its affecting all sectors of the global economy including the educational sector as students have been at home.
    Health performance and economic performance are interlinked. The former Minister of Health, Prof. Isaac Adewole supported the view when he noted that globally, the health sector is an important driver of economic growth.
    Furthermore, it is a lesson to Nigeria and other countries across the globe that economic conditions depend not just on standards of living, but on the actual performance of health systems them selves. Just as wealthier countries have healthier population fir a start, poorer countries have poorer population.
    In addition, as the global health sector suffers so are global wealth being corroded. The national income has a direct effects on the development of health system; so also does the health systems have direct effect on national income.
    In conclusion, the whole country in the globe needs to take preventive measures to stop the virus, if not, it will lead to a great economic meltdown. Fast steps should be taken for the sustenance of life and the economy.

    FULL NAMES : ANYICHIE CHIDALU PEACE
    CONTACT PHONE NUMBERS: 08144192830, 08144178570
    DATE OF BIRTH: 31/08/2001
    CONTACT ADDRESS : Samuel Iwuchukwu Compound, Umudimkwa, Umudim, Nnewi, Anambra State.
    JAMB REG. NO: 20166565IA

  • IN THE LIGHT THIS PANDEMIC,THE EFFECT OF THE DREADED COVID-19 VIRUS ON THE ECONOMIC SECTOR.

    A pandemic is a sudden outbreak or prevalence in the morbidity of a disease condition which affects up to or more than three continents of the world.The disease could be of bacterial,viral,or parasitic origin.Unfortunately,the world is presently being ravaged by a latest pandemic which is of viral origin and the name is COVID-19.
    COVID-19 is an infectious disease caused by a novel respiratory virus called SARS-COV-2 which is a strain of Coronaviridae family of viruses.This strain originated from Wuhan,the sprawling capital of central China’s Hubei province in December 2019.However,COVID-19 has rapidly progressed become a global pandemic, causing unprecedented,far-reaching impact on the intertwined health,social,economic well-being of communities around the world.
    Also,despite marked medical progress over the last centuries,infectious diseases such as COVID-19 still represent an unarguable threat to the society.While the first and most crucial aspect of an epidemic is,and will always remain the loss of human life,the spread of SARS-COV-2 also have substantial repercussions for national or regional economies.From all indications and present experience,COVID-19 pandemic has impacted on national,regional,and global economies through several channels,including the health,transportation,agricultural,and tourism sectors.
    In addition,COVID-19 pandemic has also been implicated in the unnecessary disruptions to global trade and supply chains which in turn shatters the interconnected global economies and this has been made obvious by the recent global fall in the crude oil price below $0 for the first time in history of the world.
    Consequently,the impact of COVID-19 pandemic on the health sector is tremendous ,this has forced the world health organization[WHO] to declare COVID-19 a public health emergency of international concern[PHEIC].The primary outcomes are the prevalence of death,stress,anxiety,and post-traumatic stress disorder[PTSD],among the health workers.These primary outcomes are triggered by the inability of the health care system to meet the challenge of the pattern and trend of the spread and manifestation of SARS-COV-2 coupled with the dilapidated state of the health care system in some countries,including Nigeria,plus the separation of the health care workers from their dearly families.
    More so,COVID-19 pandemic have impacted negatively on the economic sectors through transportation including ships and air planes.This is made evident as various means transportation has been placed under embargo to the detriment of the different countries that make mouth-watering monetary returns from transportation prior to this COVID-19 pandemic.
    On the other hand,the effect of COVID-19 pandemic on the agricultural sector is nothing to write home about as every person is presently on cordon sanitaire including in Nigeria thereby immobilizing the farmers from going to their farms.Even those farmers practicing commercial agriculture cannot transport their farm produce from one town to another,one state to another,and one country to another.Hence, the economies of of small scale farmers,large scale farmers,and many counties of the world at large,suffer.
    Never the less,COVID-19 pandemic is a big blow to the tourism sector as physical distancing has come to stay as a universal basic precaution to the containment of COVID-19,thus rendering tourism and it’s financial returns detrimental,and this in turn drives the economies of the different countries to a retrogressive direction.
    Finally,COVID-19 pandemic has succeeded in rendering human being an endangered specie,this it does by being responsible for about one hundred and eighty thousand human deaths worldwide as at April 22,2020 and over one thousand deaths in our dear country Nigeria .Thus,leading to the crashing of the gross domestic product [GDP] of different countries of the world as the income per head of their citizens has drastically depreciated due to massive deaths which are enough corroborative evidence that SARS-COV-2 is highly dreadful.

    FULL NAME:AJANA IKENNA DANIEL
    CONTACT PHONE NUMBER:08139396443
    DATE OF BIRTH:06/03/1995
    CONTACT ADDRESS:THINKER’S CORNER,ENUGU
    NAME OF INSTITUTION AND ADDRESS:EBONYI STATE UNIVERSITY,ABAKALIKI
    COURSE OF STUDY /DEPARTMENT:MEDICINE AND SURGERY
    JAMB REG NUMBER:46074886FB

  • IN THE LIGHT OF THIS PANDEMIC, DISCUSS HOW THE DREADED COVID-19 VIRUS HAS AFFECTED THE ECONOMICAL SECTOR.
    Late December 2019, a deadly viral disease emerged from a wet market where living and dead animals are sold in a city called Wuhan in China. This virus is known as corona virus disease. COVID-19 is a member of the family of corona viruses, it is an infectious disease which is caused by severe acute respiratory syndrome. COVID-19 outbreak has since spread to over 200 countries. Beyond the tragic health hazards and human consequences of the COVID-19 pandemic, the economic uncertainties, and disruptions that have resulted come at a significant cost to the global economy.
    The emergence of COVID-19 and its increasing incidence in Nigeria has called for drastic review and changes in the earlier revenue expectation and fiscal projections. The current state of the global economy poses more difficulties ahead as oil price has gone below the benchmark, as a result, Federal government will find it difficult to generate enough revenue to pay monthly pension and salaries to government workers.
    Also, the federal government has imposed lock-down in some states, governors have also imposed lock-down in their states. Movement restrictions have not only reduced the consumption of non-essential commodities in general, but have affected the income-generating capacity, therefore reducing our consumption expenditure; also boarder closure foreshadow a decline in exports. Indeed the crises has led to a massive decline in stock prices, as the Nigerian stock exchange records its worst performance. Firms are likely to hold-off on long term investment decisions, government purchases will increase as governments which can afford to run budget deficits utilize fiscal stimulus measures to counteract the fall in consumer spending. For governments that are commodity dependent, the fall in the global demand for commodities will increase their fiscal deficits.
    Furthermore, as discretionary spending by consumers continue to decline, companies, hotels and hospitality are facing declining demand and patronage. The pandemic is placing more than eight million jobs at risk globally. A rating agency stated that more than half of the jobs in the United States are in jeopardy.
    Moreover, the conventional policy measures currently being taken such as reducing interest rates and costs of borrowing, tax cuts and so on , are quite remarkable. However, these conventional policy measures are potent when there are demand shocks and there are limitations to the successes when demand shocks are combined with supply shocks.Thus, there are implications on the economy from both the demand and supply sides. Some of the demand factors are social distancing with consumers staying at home, limitations in spending and declining consumptions. On the supply side, factories are shutting down or cutting down production and output, while in other instances staffs work from home to limit physical contact.

    Name: Sanni Sadiat Gbemisola
    Phone number: 08170824401
    Date of birth: 16 December 1997
    Contact address: 5, Ire-Akari lane, ilupewo Ota, Ogun state
    Name of institution: Obafemi Awolowo University (OAU), ile-ife Osun State.
    Course of study : Biochemistry…part 3

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