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<div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/A.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='It's the COVID Consumer Economy' data-article-id='5011'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='5563'>Instant coffee mix and Nike Air Max footwear are all in.</span> <span data-start-time='5563' data-end-time='11729'>Bottled water and high-end Burberry trench coats are out.</span> <span data-start-time='11729' data-end-time='18958'>Welcome to America’s consumer economy in the coronavirus health crisis.</span> <span data-start-time='18958' data-end-time='26000'>It is completely different than anything that Americans have ever experienced.</span> <span data-start-time='26000' data-end-time='38250'>“Everything we knew about supply and demand, we can…throw out…because consumer behavior has changed completely,” said Piotr Dworczak.</span> <span data-start-time='38250' data-end-time='45479'>He is an assistant professor of economics at Northwestern University in Illinois.</span> <span data-start-time='45479' data-end-time='61063'>Reuters news agency examined a wide mix of goods and products to show how the COVID-19 crisis has changed consumer behavior for everything from clothing to food.</span> <span data-start-time='61063' data-end-time='70854'>These changes have given some businesses the power to raise prices or, at least, stop lowering prices.</span> <span data-start-time='70854' data-end-time='79521'>Business experts say all of this can be linked to one change: working from home.</span> <span data-start-time='79521' data-end-time='90063'>Over a very short period, a consumer-driven economy with predictable work and home spending changed completely.</span> <span data-start-time='90063' data-end-time='99042'>Rising demand for some products, as well as supply-chain problems, has pushed prices up.</span> <span data-start-time='99042' data-end-time='111438'>American consumers are now spending a lot more than they did a year ago on coffee, eggs, and cheese, the Reuters study found.</span> <span data-start-time='111438' data-end-time='120750'>The study was based on the latest pricing information from the Nielson Company and other data-gathering businesses.</span> <span data-start-time='120750' data-end-time='132521'>Demand and prices have increased for more costly items, such as Nike Air Max sneakers or a Louis Vuitton handbag.</span> <span data-start-time='132521' data-end-time='144604'>Economists explain this by saying that many people have more money right now because they are unable to buy things at stores or eat in restaurants.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/4512/A.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=15805 data-hint-location='26000' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/what_is_consumer_behavior_.wav'>What is consumer behavior? </div><div class='choices' data-correct-choice='the activities of individuals, groups, or organizations associated with the purchase, use and disposal of goods and services'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/the_activities_of_individuals_groups_or_organizations_associated_with_the_purchase_use_and_disposal_of_goods_and_services.wav'><span>the activities of individuals, groups, or organizations associated with the purchase, use and disposal of goods and services</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/the_amount_of_time_marketing_students_spend_doing_homework.wav'><span>the amount of time marketing students spend doing homework</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/the_results_of_coivd19_testing.wav'><span>the results of COIVD-19 testing</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/animal_performance_during_obedience_school.wav'><span>animal performance during obedience school</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=15806 data-hint-location='99042' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/what_item_below_is_not_one_of_products_now_costing_consumers_more_.wav'>What item below is not one of products now costing consumers more? </div><div class='choices' data-correct-choice='air travel'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/eggs.wav'><span>eggs</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/air_travel.wav'><span>air travel</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/coffee.wav'><span>coffee</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/cheese.wav'><span>cheese</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=15807 data-hint-location='70854' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/business_experts_say_the_change_in_purchasing_habits_can_all_be_linked_to__blank___.wav'>Business experts say the change in purchasing habits can all be linked to <span class='blank'>working from home</span>. </div><div class='choices' data-correct-choice='working from home'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/recent_protests.wav'><span>recent protests</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/working_from_home.wav'><span>working from home</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/past_boycotts.wav'><span>past boycotts</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4512/consumer_travel_plans.wav'><span>consumer travel plans</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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