Question

Case based questions (Q. No. 6 to 9
Read the following case study paragraph carefully and answer the questions
basis of the same
Ramesh owns a grocery shop in the market. He is a retailer deals in almost all the
products which are required in the household His main motive is to cater the
needs of the customer and provide them complete satisfaction. In his market he
can't make his own price for the product. Also he mainly deals with some produa
like other shopkeepers
6. Identify the market discussed in the above paragraph
a Perfect competition Olinopoly
6. Monopoly
d. None of these
7. The goods sold in the above market are
a Homogenous Product c. Boih (a) and (b)
5. Hetrogenous Product d. None of the above
In the above market the firm is a
a Price maker
c. Both (a) and (b)
Price make
d. None of these
9. The above market which is discussed in the paragraph has a demand more
2. Parallel to Y axis c. Starts from the origin
b. Horizontal to X axis d. None of the above
10. The rotation of the PPC from ab to ab, shows
a Increase in Resources
Decrease in Resources
Good A
c. Improvement in technology of Good - A
bi
d. Improvement in technology of Good-B
GoodB
hrirfly the concept of Equilibrium​

Answer 1

Answer:

6.perfect competition

7.homogeneous product

8.price taker

9.parallel to Y axis

10. C