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Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.
Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.
Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.
Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.
Q. According to the passage, what do the apologists of the "Free Market System" believe in?
  • a)
    Market without control by government authorities
  • b)
    Market without protection by the government
  • c)
    Ability of market to self-correct
  • d)
    Market for free goods and services
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Directions: Read the following passage carefully and then answer the ...
Apologists of free market believe in the efficiency and self-correcting ability of such markets as mentioned in 'The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction'. However, this is a biased view as they fail to consider truth, honesty and justice as integral components of an economic system.
Option (1) is not inferable as nothing with respect to role of government is mentioned in the passage.
Option (2) and option (4) are out of context options.
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Community Answer
Directions: Read the following passage carefully and then answer the ...
Explanation:

Beliefs of the apologists of the "Free Market System":

- Belief in the ability of the market to self-correct: The apologists of the free market system believe that the market has the inherent ability to self-correct any issues or inefficiencies that may arise. They argue that the recent global banking crisis and economic recession were just temporary setbacks and not indicative of any fundamental flaws in the system.

- Emphasis on free market operations: They advocate for minimal government intervention in the market, believing that a free market, driven by competition and individual self-interest, is the most efficient way to create wealth and allocate resources.

- View on unregulated market: The apologists believe that an unregulated market is fair and competent, as it allows for natural market forces to determine prices, wages, and overall economic activity without government interference.

- Focus on wealth creation: They often highlight the positive aspects of capitalism, such as wealth creation and economic growth, while downplaying or ignoring the negative consequences, such as wealth inequality and social injustice.

In summary, the apologists of the free market system hold a strong belief in the ability of the market to self-correct, advocate for minimal government intervention, view an unregulated market as fair and competent, and focus on the positive aspects of wealth creation.
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Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. The phrase that is closest in meaning to the word “Apologist” is

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Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer?
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Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.
Here you can find the meaning of Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. 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The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions: Read the following passage carefully and then answer the question based on what is stated or implied in the passage.Many nations now place their faith in capitalism and governments choose it as the strategy to create wealth for their people. The spectacular economic growth seen in Brazil, China and India after the liberalisation of their economies is proof of its enormous potential and success. However, the global banking crisis and the economic recession have left many bewildered. The debates tend to focus on free market operations and forces, their efficiency and their ability for self correction. Issues of justice, integrity and honesty are rarely elaborated to highlight the failure of the global banking system. The apologists of the system continue to justify the success of capitalism and argue that the recent crisis was a blip.Their arguments betray an ideological bias with the assumptions that an unregulated market is fair and competent, and that the exercise of private greed will be in the larger public interest.Few recognise the bidirectional relationship between capitalism and greed; that each reinforces the other. Surely, a more honest conceptualisation of the conflicts of interest among the rich and powerful players who have benefited from the system, their biases and ideology is needed; the focus on the wealth creation should also highlight the resultant gross inequity.Q. According to the passage, what do the apologists of the "Free Market System" believe in?a)Market without control by government authoritiesb)Market without protection by the governmentc)Ability of market to self-correctd)Market for free goods and servicesCorrect answer is option 'C'. 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