Question

Please someone help me - how will the economy recover after coronavirus

Answer 1

It will take the UK economy three years to fully recover from the fallout of the coronavirus pandemic, according to a leading forecasting group.
As the damage for jobs and growth unfolds, the EY Item Club said it would take until 2023 for the the economy to return to the level reached at the end of last year due to the depth of the crisis.
One month on from the imposition of lockdown measures across Britain, effectively bringing large swathes of the economy to a halt, the group warned that almost half of all consumer spending in 2020 – the major engine of UK growth over recent decades – is at risk of either being delayed or lost completely.
The group of economists said GDP was set to collapse by 6.8% in 2020, before returning to positive growth of 4.5% in 2021 as businesses try to make up for lost time and consumers ramp up their spending again

Answer 2

Given that there is not another disease or our government doesn't make a risky move, and that we do not enter war with another country or our own, then the economy should recover fairly well through the lifting of restrictions from businesses. To help the economy, money must cycle. If there is not enough money cycling through the system, then banks and stock markets have a high possibility of crashing.

The President of the U.S. (Donald Trump) has issued checks to low income and needing citizens of the United States to help people survive and keep the economy running as smooth as possible through this pandemic. Businesses must also keep in mind that price gouging is illegal in most areas, especially during a crisis, and this is to make sure that we are still able to keep money going through the system as much as possible (plus it also helps people survive).

The recovery of the economy is not a black and white matter. There are grey areas, meaning there may be times where the economy's activity may decrease or plateau and other times it will rise quickly.

To keep the economy running smoothly is a delicate and tricky balance to obtain, as there are many factors that play into it.

Step-by-step explanation:

If you are needing more information about how an economy can recover or crash, I highly recommend researching a little bit about the Great Depression (1929-1939).

I hope this helps :)