Write about how the corona virus has affected our economy. Write two paragraphs.

Hi there! Here are the paragraphs you requested!

The Corona virus has a greatly affected not only the American economy but the world economy as a whole. with entire countries going into lockdown, workers have been unable to work. This limits the amount of spendable income that people have access to. This limits the amount of "wants" that people can afford to, or feel comfortable, buying. The biggest industries, such as travel, have also been largely shut down by governments as a protective measure. These industries, which once were thriving and boosting the economy, have gone stagnant.

When income is uncertain, people are more hesitant to invest in stock markets. Less people investing out of fear means the entire economy declines. Times like these remind people of when there was a cash shortage. People visualize not being able to get their money if they went to the bank and needing to "storm the banks" like in recession days. This causes many people to go take their money out of banks. When the money is not in banks then the government and the country has less access to cash. Banks keep money flowing, receiving deposits and using that money to give loans. With less money available to the banks disposal, the amount of loans that can be given is limited

I hope this makes sense!

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