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Question: The main aim of this assignment is to understand the mechanism of demand and supply especially in time of emergency or sudden shock like COVID-19. "This coronavirus has elements of both supply and demand shocks. The way to think about the demand shock is, it's the information that affects our expectations of what might transpire in the future," Andolfatto explained. "So, if suddenly, in addition to my contemporaneous inability to produce output, I also believe that this is going to last for a long time, that's going to influence my actions even beyond the contemporaneous. The demand shock is how people are projecting this to unfold," he said.
Read the below article, "How Hospitals Can Manage Supply Shortages as Demand Surges and answer below questions.
Question 1: Based on article, discuss that how to tackle the demand by carefully considering the systems interdependencies and unintended consequences?
Question 2: Do you think that short term demand forecast can help in managing the resources?
Article - How Hospitals Can Manage Supply Shortages as Demand Surges.
Attachment:- Assignment GUIDELINES.rar
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