Question

1-What are the factors that affect the country growth?

2- how to make a business grows?

3-How global pandemic affect your Tesla company?

Answer 1

(Question-1)

These are the following factors that affect the economic growth of a country:-

(A) Human resource

The quality and quantity of human resource can directly affect the growth of the economy. The quality of human resource depends on its skills, creative abilities, training and education. If the human resource of a country is well skilled and trained then the output would also be of high quality. Also the human resource must be in adequate in numbers with required skills and abilities so that economic growth can be achieved.

(B) Natural resource

Natural resource involves resources that are produced by nature either on land or beneath the land.The natural resource of a country depends upon the climatic and environmental desicion. Countries with plenty of natural resource enjoy good growth than countries with small amount of natural resources.

(C) Capital formation

It involves land, buildings, machinery, power and transporattion. Producing and acquiring all these manmade products is termed as capital formation. Capital formation increases the availability of capital per worker which ultimately results in the increase in output and growth in the economy.

(D) Technological development

Technological development helps in increasing productivity with the limited amount of resources. Countries that have worked in the field of technological development grow rapidly as compared to countries which have less focus on the technological advancement.

(E) Social and political factors:-

Social factors involvs custom, traditions and values which contribute to the economic growth to a considerable extent. Apart from this , plitical factors, such as participation of goverment in formulating and implementing various policies have a major part in economic growth.

(QUESTION-2)

Some of the ways to grow businesses are:-

(A) Get to know your customers

understand your customers need and develop products and services that meet those needs. You can gain insight into your customers by personalising your services and encouraging them to provide you with feedback

(B) Offer great customer service

Ensure that your customer service is exceptional and keep on enhancing it. This will make your customer refer you to other people also.

(C) Use social media

Social media is a powerful tool to promote your businessto potential customers and gain valuable insight through social listening. Through social listening you can find out what customers are saying about you and your service. This gives a scope of improvement. Social media also helps to promote your business and to build your business profile and attract new customers.

(D) Attend networking events

Invest time to build your networks. Networking llows you to build realtionships with other people and encouraging them to refer customers to you through word of mouth.

(E) Give back to your comapny

Building brand awareness in your local community is a great way to attract new business, Consider sponsorship or participating in a community event to raise your business profile.

(QUESTION-3)

Tesla has shrugged off the economic upheaval caused by the pandemic. Tesla experienced more than doubled its third quarter profits and delivered a record number of electric cars.

The company experienced record demand during the pandemic and expects to see even more demands from investors.

The comapany is benifited by its salary cuts and opening of a new factory in china. The comapny tries to reduce costs in such worst situations also which led to record profits to the comapany.