Overview
Economic resilience is essential for communities and businesses to thrive after disruptions like pandemics. It involves understanding the types of economic shocks, the role of government policies, and the importance of innovation and community support. By fostering resilience, economies can not only...
Key Terms
Example: The COVID-19 pandemic caused a major economic disruption worldwide.
Example: In response to a recession, a government may increase spending to stimulate growth.
Example: Lowering interest rates to encourage borrowing and investment.
Example: Unemployment rates and business recovery rates are common resilience indicators.
Example: A company may diversify its product line to mitigate losses from a single market.
Example: A retail store adopting e-commerce to reach more customers.