AFCAT Exam - 2019 Defence Question Paper

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.
Mean business

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.
Keep one's finger on the pulse

In the following question, out of the four alternatives, select the alternative which best expresses the meaning of the idiom/phrase.
Cut to the chase

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.
Showing or having a lot of space inside; roomy

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.
An uncontrolled outburst of anger and frustration

In the following question, out of the four alternatives, select the alternative which is the best substitute of the phrase.
A bitterness or ill feeling about something.

PASSAGE (Next 3 Questions)
Read the following passage and answer the questions given below it.
In economics, a free market is a system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority. The laissez-faire principle expresses a preference for an absence of non-market pressures on prices and wages, such as those from discriminatory government taxes, subsidies, tariffs, regulations of purely private behaviour, or government-granted or coercive monopolies. The concept of free market contrasts with regulated market, in which a government intervenes in supply and demand through various methods such as tariffs used to restrict trade and protect the economy. In a free market economy, prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy. Although free markets are commonly associated with capitalism within a market economy in contemporary usage and popular culture, free markets have also been advocated by free-market anarchists, market socialists, and some proponents of cooperatives and advocates of profit sharing. Criticism of the theoretical concept consider systems with significant market power, inequality of bargaining power, or information asymmetry to be less than free, with regulation being necessary to control those imbalances.

What are the driving forces of a free market?

What are the methods through which government can regulate a market?

What is the principle that guides free markets?

In the following question, the sentence given with blank to be filled in with an appropriate word. Select the correct alternative out of the four and indicate it by selecting the appropriate option.
This is ______ worse than I thought it would be.