BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Many cities and countries have gone for lockdown measures confining people to their homes and drastically reducing economic and social activities. The lockdown measures are noticeably impacting the environment due to shut down of industries, factories, construction, schools and offices and reduced vehicular activity.

Detailed explanation-2: -The International Monetary Fund (IMF) said the global economy contracted by 3.1% in 2020. 6 Mandatory lockdowns around the world significantly impacted job security, spending, and the production of goods and services-leading, among other things, to the stock market crashing.

Detailed explanation-3: -Sales have seen a sharp decline due to travel restrictions, social distancing, restrictions on sale of some commodities and customers resorting to budget cuts and putting projects on hold. Companies are struggling to recover fixed costs in the absence of revenue generation due to sharp drop in sales.

Detailed explanation-4: -Sectors most affected include construction, manufacturing, and contact-intensive services (i.e., trade, transport, and hospitality).