application and effectiveness of measures to tackle different forms of market failure: specific and ad valorem indirect taxes, subsidies, price controls, production quotas, prohibitions and licences, regulation and deregulation, direct provision, pollution permits, property rights, nationalisation and privatisation, provision of information, behavioural insights and ‘nudge’ theory

direct provision of goods and services

AD/AS analysis of the impact of supply-side policy on the equilibrium national income and the level of real output, the price level and employment