ESSAY PLAN •Introduction: around 10% of the word count •Terms of reference: what does this essay answer, the structure of the essay •Define technical terms •Main body: •you make your case and answer the question •Make sure it is properly structured •No headings – paragraphs should have cohesion •Conclusion: around 10% of the word count •Summary •Reflects on introduction

Looking at other giant companies, then seeing ostensible reductions in income, oil goliath Royal Dutch Shell experienced the best loss of all organizations investigated in 2020. The organization's income diminished by a hundred and sixty-five billion dollars somewhere in the range of 2019 and 2020, which can to a great extent be ascribed to the emotional fall in oil costs during the Covid pandemic. Generally, a big part of the best 20 organizations that saw the largest ostensible abatements in income were in the oil and gas industry.In any case, in large numbers of the world's most un-created nations, customers and organizations haven't gained by pandemic-instigated online business openings because of relentless boundaries.These incorporate exorbitant broadband administrations, overreliance on cash, absence of shoppers' trust, poor advanced abilities among the populace and legislatures' restricted consideration regarding online business.According to United Nations Conference on Trade and Commerce: “Countries that harness the potential of e-commerce will be better placed to benefit from global markets for their goods and services in this digitalizing economy, while those that fail to do so risk falling behind even further,” said Shamika N. Sirimanne, UNCTAD’s technology and logistics director.One of the main difficulties, is that the pandemic has generally helped the world's driving digital giants. Numerous arrangements being utilized for web based business, teleworking and distributed computing are given by a generally modest number of huge organizations, based for the most part in China and the United States.More modest players might have acquired a more profound traction, however their market presence is as yet overshadowed by the advanced monsters, which could settle in their overwhelming job during the pandemic.Conclusion As mentioned earlier, the best goods and services in the global market are the inelastic ones. Regardless of the economic situation, a boom or a crisis, the demand will not change no matter the price. The pandemic of COVID-19 has proven that theory. Businesses that provide goods and services which are a necessity always win. In today’s world, ability to work from home and flexibility with lack of direct human contact gives a huge advantage to businesses. Large tech companies were able to use price elasticity of demand concept to their advantage. The concept allowed companies to play with the prices of the product and see the changes in the demand for the product. The possibility that the customers will still be willing to pay more and the demand for the product will not drop from increased prices was strengthened by the necessity of the products offered. Such a situation made the price elasticity of demand an essential tool for maximizing profits for the stakeholders, therefore helping businesses achieve its main objective. Regardless, for computerized endeavors, mass terminations have had generally the greatest impacts. With people in their homes more, clients have gone to online business organizations to buy stock. The effect is twofold: associations with an online presence are seeing an uncommon spike in bargains that benefit them right as of now just as may allow them to get customers long stretch. Meanwhile, associations without online retail veneer or business affiliations are winding up in a difficult situation, no question. Yet, only those that are taking advantage of market changes, analyzing them through price elasticity demand technique have managed to claim the top spot. References Investopedia. 2021. Price Elasticity of Demand. [online] Available at: Unctad.org. 2021. How COVID-19 triggered the digital and e-commerce turning point | UNCTAD. [online] Available at: Ft.com. 2021. Prospering in the pandemic: the top 100 companies. [online] Available at: Pisani, J., 2021. Amazon's profit more than triples as pandemic boom continues | AP News. [online] AP NEWS. Available at:  Ross, C., 2021. The Benefits of eCommerce: How Selling Online is Helping Businesses Survive COVID-19. [online] TrueCommerce. Available at: Armental, M., 2021. Nvidia Posts Record Sales as Pandemic Sustains Demand for Gaming, Data-Center Chips. [online] WSJ. Available at: Anayi, L., Bloom, N., Bunn, P. and Mizen, P., 2021. Update: Which firms and industries have been most affected by Covid-19? - Economics Observatory. [online] Economics Observatory. Available at: Davies, N., 2021. The companies hardest hit by the Covid-19 pandemic. [online] Investment Monitor. Available at: