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What Spending Money Means to Me During COVID-19 & Beyond

Updated: Apr 8, 2021

In this video we could see SDG 9: Industry, Innovation, and Infrastructure, which is one of the driving SDGs when it comes to our economy and its leadership.

Industry tends to respond to demand increases and decreases in order to regulate their supply of variety and amounts. However, due to financial means being one of the main factors in making a decision on what to buy, the increase of demand for sustainable products and services only changes slowly.

Even if demand for the products goes up slightly, the supply of non-sustainable products does not proportionally decrease. As people want to have options in product variety, sustainable product varieties supply can be increased by not purchasing anything non-sustainable, by asking the question of necessity of a product or service.

As was mentioned in the video, every time that we purchase something, we cast a vote of supporting everything about the product we bought, and with not buying it, not supporting most of the things about it for different reasons.

Therefore, being more aware about what we buy and its defining factors, such as country of origin, composition, and quality, are crucial to increasing the supply of sustainable products and services.

Check out how standards of living are changing and how we may be able to increase demand for sustainable products in our Global Community Resources in the Economic Development category.

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