Research Information System
International Asian Congress on Contemporary Sciences - IV, Baku, Azerbaijan, 26 - 28 June 2020, pp.188-192
The Covid-19 epidemic has affected the World tremendously, not only in the health manner, but
also in the economical manner. Several authorities believe and argue that, economic affects of the
Covid-19 epidemic is more severe than the economic depression of 1929. Definitely, all countries
across the continents have taken different measures and actions in order to lower the negative
health and economical impacts of the Covid-19 epidemic. However, the Covid-19 epidemic has
shown us that, consuming behaviors of societies possess a great danger for the future. It is
observed that, undeveloped and developing countries are still consumers, not producers. In others
words, the Covid-19 epidemic reflected the mentioned reality to undeveloped and developing
countries. Moreover, the Covid-19 epidemic has shown that, more and more people will get
unemployed in the coming years. The reason is that, workforce required to provide goods and
serviced demanded by the wealthy population will decrease. Besides, the cost saving pressure
because of global competition, economic crises and Covid-19 epidemic will also trigger further
unemployment. Furthermore, it is ironic that governments all over the World have preferred
economic activities and boom instead of health while unemployment rates still go up. The Covid19 epidemic has also proved that, liqudity and keeping reserves are ciritically important for any
business from an accounting and finance perspective.