Hand in hand with the measures being used to contain the spread of Covid-19 comes the economic consequences. While we are flattening the curve, businesses are shutting down and unemployment is rising. Talking about economics can be as exciting as watching paint dry, but once you get your head around some basic concepts, it is, shock horror, actually quite interesting. In this Squiz Shortcut we're going to take you through some economic fundamentals that'll help give some context to what is happening right now with the Coronavirus pandemic, including what a recession looks like, and what governments can do when times get tough.Squiz Shortcuts is your shortcut to more than the headlines.The Squiz Today is a free weekday email and podcast that's your shortcut to the news. Sign up at https://www.thesquiz.com.au .Recommendations:Buy local! Find your local businesses on social media and support them if you can. Buy From The Bush and Buy Aussie Now are also good places to discover Australian businesses.The Labor in Power series documented the Hawke and Keating years. This episode on the economic downturn in the late 80s and early 90s is a good one. See /privacy for privacy and opt-out information.