In the given configuration we have a magnet and a loop} of wire connected to a light bulb.
The magnet produces a constant magnetic field which is represented by the field lines.
When the magnet poles are flipped the magnetic field changes accordingly. Now, we need to consider Faraday's law or the Law of Induction. This means that when there is a changing magnetic field in a loop, an electromagnetic force will be induced inside the loop. This electromagnetic force will generate a current that in turn will turn the light bulb on.
Therefore, by flipping the magnet inside the loop the light bulb will turn on.