Answer to Question #255650 in Microeconomics for nana

Question

Why are economic problems and issues difficult to resolve? In this time of covid-19 pandemic and its variants, what microeconomic options are available to individuals and consumers in their quest for goods and resources given the loosening of restrictions in the months to come? Cite three major options considered to be necessity for individuals and consumers alike.

Answer 1

Economic problems are challenging and remain unresolved due to the scarce economic resources available.

One of the options available for individuals and consumers is to embrace online commerce. After the pandemic struck, almost every company moved its services online. Therefore it is easier for individuals and consumers to get goods and resources online.

Another option that individuals and consumers can get goods and resources is through working at home or working remotely. Working from home has been embraced by many companies. The move has enabled employees to receive financial resources as they deliver services remotely.

Finally, individuals and employees can access goods and resources through digital transactions that support cashless modes of payment. Such options help to access payments and conduct business virtually.