COVID 19 has affected economies all over the world. Almost all the countries on the globe were affected by it and still continue to be affected. India is not an exception. Many people lost their lives; many people lost their jobs. Apart from the nationwide lockdown that Prime Minister Shri Narendra Modi imposed on 24 March, 2020 for 21 days which got further extended, multiple lockdowns were imposed by the ministers within their states. It created a sort of shortage of food items in the local market with essential items sweeping off the shelves within hours and many people weren’t able to get their hands on even daily basic essentials as milk and bread. It affected the production of the commodities and thus the national income of the country. The entire supply chain was disrupted and every sector of the economy was affected badly. The coronavirus pandemic created a situation of panic in the country with people hustling to get hospital beds and oxygen cylinders. It shows the under preparedness of the medical system and of the shortage of quality medical infrastructure in the country.

What does struggle for oxygen cylinders during peak COVID times represent?

Excess demand

The correct answer is option 1: Excess demand