Question

Tesla's new electric cars are making noise in the media as they are creating in increase in demand for green efficient transportation. Research an article on how the social influence from companies, such as Tesla, are impacting consumer decisions. How should the government react to these changes in consumer demand; changing the laws or letting the competitive markets determine if a company's impact on the supply and ultimately demand for certain products should be allowed.

Answer 1

Ans. Tesla have completely disrupted the old conventional automobile industry and have been very successful in it's experiments with Electric Cars and Self Driving Cars. It's competitors are also focusing on these technologies now. Tesla have been able to convince the consumers to some extent that Electric cars can do save them money in the long run and would also save the environment too. Consumers are now seen changing their tastes and preferences. Government must take advantage of this situation and promote the usage of such technologies in the market in order to facilitate the use of renewable energy by launching awareness programmes or by giving concessions to such companies , framing laws related to this new booming industry in order to regulate it to certain extent and also contribute towards increasing the demand and supply of these products.

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