Directions: The question given below consists of a statement, followed by two arguments numbered I and II. You have to decide which of the arguments is a ‘strong’ argument or both or neither of them is ‘strong’.

Despite the popularity of economic liberal ideas and globalization, the increasing severity of energy and environmental problems has raised many questions about the ability of markets to solve these problems. Kyoto Agreement ultimately resulted in the creation of a market-based system. The privatization of environmental problems has helped to reduce greenhouse gas emissions while generating significant amounts of wealth.

Arguments:

I. Yes, it is important to balance economic goals with environmental protection to ensure a sustainable future for generations to come.

II. No, economic liberal ideas and globalization directly help in conserving climate and thereby there is no need to implement the market-based system.