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Tax reductions mean that more disposable income is available to people. But the increase in consumption depends on the marginal propensity to consume (MPC). If the MPC is too low, consumers will not consume the additional income made available to them through tax cuts.
The sanskrit word nirvana refers to the destruction or cessation of desire. It means one has to empty thyself from desires. By eliminating desires one is also eliminating afflictions, actions, rebirths, and suffering that are consequences of afflictions and actions.
A positive externality often takes place when a gain does spills over to a third-party. A social policy generates positive externalities if it produces social and economic benefits that outweigh the costs associated with that policy.
Social policy is simply known as a plan or action of government, institutional or agencies so as to boast or improve the society.
They are known to be actions that influences the well-being of members of a society via altering the distribution of and access to goods and resources in that society.
Government often boast positive externalities by reducing or subsidizing goods and services that brings about spillover benefits.
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