How has the coronavirus crisis affected your budget constraint?

This assignment should be completed following similarly to any English composition essay. It should identify an introduction, body, and conclusion.

Essay Question: Personal Impact from Coronavirus | How has the coronavirus crisis affected your budget constraint?

Essay Structure:

The essay should cover theory and application (life examples explained) of the following:

Theory:

Budget Constraint.
Scarcity.
Choices.
Opportunity Cost.
Factors that expand/contract budget constraints.
Application of the theory:

A real-life situation where you explain the concepts above mentioned responding to the question of how has the coronavirus crisis affected your budget constraint.

Example/Explanation of personal scarcity and choice(s).
Example/Explanation of personal opportunity cost due to personal choice(s).
Example/Explanation of personal expansion or contraction of their budget constraint.
Conclusion of reflection about the effect of coronavirus on their life.
Sources:

Lecture recordings: Class 11, 12, and 13.
Lecture BB Folder: Ch. 2, Ch. 6, Budget Constraint and Consumer Choices.
Textbook: Ch. 2, section related to Budget Constraint.
Help with the Essay:

You can look for help on the organization, structure, and clarity of your ideas through HALC’s online tutoring. For information on HALC’s online tutoring, look for the corresponding email/announcement sent by me.

Essay Rubric:

Find here the parts that need to be identified in your essay for a passing grade.

Format:
Own words.
Organization/structure of the essay (introduction, body, conclusion).
Clarity of ideas.
Theory:
Definition of Scarcity.
Definition of Opportunity Cost.
Factors that Increase/Decrease budget constraints.
Application of the theory:

Example/Explanation of scarcity and choice(s).
Example/Explanation of opportunity cost.
Example/Explanation of expansion/contraction of the budget constraint.
Conclusion effect of coronavirus on life.