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Mama L [17]
3 years ago
11

Why are externalities considered a sign of market failure?

History
1 answer:
Tpy6a [65]3 years ago
5 0

Externalities, or consequences of an economic activity, lead to market failure because a product or service's price equilibrium does not accurately reflect the true costs and benefits of that product or service.

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What changed in Pakistan from 1958 to 1977?
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Answer:

Pakistan gained independence from Britain in 1947 and Muhammad Ali Jinnah  became the first head of the nation, as well as he was founding father of the Pakistan. There are some key events which indicates the change of Pakistan during 1958 to 1977.They are listed below.

*Death of Jinnah= In 1948 Jinnah died and and Liaquat ali Khan became his successor. But in 1951 he was assassinated.

*Constitutional change= In 1956 they proclaimed through the constitution that Pakistan is an Islamic Republic.

*Military Ruling= In 1958 Chief of Army General Ayub Khan took the power and the military ruling began in Pakistan. He ruled until 1968 .

* Take over of power= In 1968 General Yahya Khan took power from Ayub khan and announced general election in 1970,

*Election result= In 1970, the main political party from East Pakistan Awami leauge won in the election and the tension raised in the both side.

*Liberation war of East Pakistan= In 1971 East Pakistan announced war for liberation as a result of attack from west Pakistan.After the nine month long war East Pakistan was liberated and Bangladesh was born as an independent nation.

*New government in Pakistan= After dividing Pakistan West Pakistan became the only part of Pakistan and leader of People's Party Julfiqar Ali Vutto became the prime minister.

* Again military power= In 1977 General Zia ul Haq organized a military coup against the People's Party government and took power and became the president of Pakistan.

From the above discussion it can be said that Pakistan went though several political change and war through 1958-1977.

Explanation:

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