Abstract:
It is widely believed that resources are becoming scarcer, and measuring their
availability is crucial for efficient allocation. This study measures the availability and
affordability of essential items in Pakistan before and after COVID-19. Time Price, Price
Elasticity of Population (PEP), and Simon Abundance Index (SAI) are calculated to analyze
thirty-nine items from Pakistan's CPI basket. The findings reveal that from 2006 to 2018, the
Time Price decreased for almost all items, indicating increased affordability and resource
abundance relative to population growth. However, the COVID-19 pandemic significantly
increased the Time Prices of essential commodities, making them less affordable and less
abundant. Policymakers are advised to adjust wages to maintain purchasing power and to
adopt resilient strategies to ensure Pakistan is well prepared for such crises.
