Question

''The new governments are important markers''.Elucidate.

Answer 1

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Answer 2

The new governments are important markers

Explanation:

The new governments are important markers are as follows:-  

• Value judgements: Several people want a specific  intervention owing to of their vested interests.  
• Changing prices to change behavior and incentives: PED has a big impact effect on the efficacy of policy  
• Social science: The impacts of intervention cannot be anticipated  with great accuracy — people's behavior is always subject to change  
• Combinations of policies: It would be impossible that a single action can lead to a solution to embedded issues – consider a variety of policy alternatives in the discussion. for instance policies which works on market supply and market supply  
• The power of markets: Market forces can be powerful in finding profitable solutions to problems  
• The 'law of unintended consequences': Interventions do not always work the way they were planned or in the way they are expected by economic theory.