Impacts of Pandemic on Consumer Behavior (Essay Sample)

Impacts of a pandemic on consumer behavior.
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Impacts of a pandemic on consumer behavior
A pandemic typically devastates a country's consumer behavior. This statement can be evidenced by simply reading any of the many papers which have been written on the consequences of 1918 H1N1 influenza for rural life in Britain. There are contributions from agricultural studies, medical history, and socio-economic history. All point to the general depression that disorientated most rural areas at that time. In terms of agriculture, there was a decrease in production as the labor force contracted during this period. Supplies became scarce and prices soared making what food existed unaffordable for those who could not make ends meet with their current incomes, and prompting farmers to produce lower quality products (for example margarine) to more easily meet demand; also furthermore there were problems.
The classical model of consumer behavior for a product with uncertain availability is the consumers' utility will be less than that of a product with certainty. If this is true, these individuals will willingly purchase more from the item with certainty and rely more on items with uncertain availability.