Demand for hand sanitizer is surging around the globe as the new coronavirus spreads, prompting retailers to ration supplies and online vendors to hike prices. Sales of hand sanitizers and similar products have swelled across several international markets since the COVID-19 outbreak began in January. The virus, which originated in China, has now spread to more than 60 countries. According to data published Tuesday by market research firm Kantar, U.K. hand sanitizer sales saw a year-on-year increase of 255% in February. Meanwhile, British shoppers were buying 7% more liquid hand soaps and spent 10% more on household cleaners compared to February 2019. (Source: CNBC, 3rd March 2020 ii. Due to high demand of hand sanitizer, it will lead to increases of price by producers. Based on your opinion, what should a government do to control the price of hand sanitizer to keep hike during the pandemic.
Demand for hand sanitizer is surging around the globe as the new coronavirus spreads, prompting retailers to ration supplies and online vendors to hike prices. Sales of hand sanitizers and similar products have swelled across several international markets since the COVID-19 outbreak began in January. The virus, which originated in China, has now spread to more than 60 countries. According to data published Tuesday by
ii. Due to high demand of hand sanitizer, it will lead to increases of price by producers. Based on your opinion, what should a government do to control the price of hand sanitizer to keep hike during the pandemic.
Step by step
Solved in 3 steps