Answer to Question #267662 in Sociology for Muhle

Question

Discuss the socio-economic experiences of the family and some of the ways that the Covid-19

lockdowns have affected different households. (about 100-200 words)�

Answer 1

Socioeconomic status is more commonly used to portray an economic difference in society as a whole. It is important to note that socio-economic experience of a family affects children’s learning behavior and academic performance by affecting parents’ educational expectations towards children and their educational participation. However, families with relatively high socio-economic status will strive to secure quality educational opportunities for their children, such as those provided by key schools and markets in the system, which in turn will affect their academic achievements.

The coronavirus (COVID-19) pandemic has created a complex economic shock that has affected households across the globe very differently. The COVID-19 pandemic has caused a massive economic shock across the world due to business interruptions and shutdowns from social-distancing measures. As a result the pandemic has great impacts on individuals, whereby a micro-economic model is developed to estimate the direct impact of distancing on household income, savings, consumption, and poverty. 

The pandemic has also increased the poverty levels among many households as many people have lost their jobs during this pandemic something which has made it hard for this people to cater for their needs hence living a poverty life.