Here you can download a free Reading Comprehension questions PDF with answers for MAH MBA CET 2022 by Cracku. These are some tricky questions in the MAH MBA CET 2022 exam that you need to find the answers to the given Reading Comprehension questions. These questions will help you to practice and solve the Reading Comprehension questions in the MAH MBA CET exam. Utilize this PDF practice set, <\/strong>which is one of the best sources for practising and includes detailed answers. Click on the below link to download the Reading Comprehension MCQ<\/strong> PDF for MAH MBA CET 2022 for free.<\/p>\n Download Reading Comprehension Questions for MAH-CET<\/a><\/p>\n Enroll to MAH-CET 2022 Crash Course<\/a><\/p>\n Instructions<\/b><\/p>\n Read the passage given below and answer the following questions<\/p>\n Firms are said to be in perfect competition when the following conditions occur: (1) many firms produce identical products; (2) many buyers are available to buy the product, and many sellers are available to sell the product; (3) sellers and buyers have all relevant information to make rational decisions about the product being bought and sold; and (4) firms can enter and leave the market without any restrictions\u2014in other words, there is free entry and exit into and out of the market.<\/p>\n A perfectly competitive firm is known as a price taker, because the pressure of competing firms forces them to accept the prevailing<\/strong> equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors. When a wheat grower, wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to check. The market price is determined solely by supply and demand in the entire market and not the individual farmer. Also, a perfectly competitive firm must be a very small player in the overall market, so that it can increase or decrease output without noticeably affecting the overall quantity supplied and price in the market.<\/p>\n A perfectly competitive market is a hypothetical<\/strong> extreme; however, producers in a number of industries do face many competitor firms selling highly similar goods, in which case they must often act as price takers. Agricultural markets are often used as an example. The same crops grown by different farmers are largely interchangeable. According to the United States Department of Agriculture monthly reports, in 2015, U.S. corn farmers received an average price of $6.00 per bushel and wheat farmers received an average price of $6.00 per bushel. A corn farmer who attempted to sell at $7.00 per bushel, or a wheat grower who attempted to sell for $8.00 per bushel, would not have found any buyers. A perfectly competitive firm will not sell below the equilibrium price either. Why should they when they can sell all they want at the higher price?<\/p>\n Source: Principles of Economics, Download for free at http:\/\/cnx.org\/content\/col11613\/latest.<\/p>\n Question 1:\u00a0<\/b>Choose the word that is synonymous with the word \u201cHypothetical\u201d as used in the passage.<\/p>\n a)\u00a0Theoretical<\/p>\n b)\u00a0Incidental<\/p>\n c)\u00a0Exploitative<\/p>\n d)\u00a0Superlative<\/p>\n e)\u00a0Abstract<\/p>\n 1)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n The author says that the idea of perfectly competitive market is a \u201chypothetical\u201d extreme but similar though not exactly same conditions exist in many industries. Hypothetical, as used in the passage, means theoretical. Hence, option A.<\/p>\n Question 2:\u00a0<\/b>Choose the word that is synonymous with the word \u201cPrevailing\u201d as used in the passage.<\/p>\n a)\u00a0Deterministic<\/p>\n b)\u00a0Conquering<\/p>\n c)\u00a0Current<\/p>\n d)\u00a0Popular<\/p>\n e)\u00a0Redundant<\/p>\n 2)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage refers to \u201cprevailing equilibrium price\u201d which refers to the price existing in the market at that particular point of time. Hence, current is synonymous with prevailing as used in the passage.<\/p>\n Question 3:\u00a0<\/b>What is the purpose of the passage?<\/p>\n a)\u00a0To encourage perfect competition in all fields<\/p>\n b)\u00a0To explain how an individual producer is a price taker in a perfectly competitive market<\/p>\n c)\u00a0To explain why perfect competition is hurting our farmers<\/p>\n d)\u00a0To explain supply and demand economics to the reader<\/p>\n e)\u00a0None of the above<\/p>\n 3)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage explains how the price of a good is set in a market with perfect competition and goes on to explain why a producer cannot individually decide the price in cases where perfect competition exists. Hence, option B.<\/p>\n Question 4:\u00a0<\/b>From the passage, it can be inferred that the author is a<\/p>\n a)\u00a0Wheat Farmer<\/p>\n b)\u00a0Economist<\/p>\n c)\u00a0Agricultural Scientist<\/p>\n d)\u00a0Manufacturer<\/p>\n e)\u00a0Book Critic<\/p>\n 4)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage gives us the economic theory behind the concept of perfect competition. As an economics concept is explained, the author is likely to be an Economist.<\/p>\n Question 5:\u00a0<\/b>Which of the following can be inferred from the information given in the passage? a)\u00a0I only<\/p>\n b)\u00a0II only<\/p>\n c)\u00a0I and II only<\/p>\n d)\u00a0III only<\/p>\n e)\u00a0II and III only<\/p>\n 5)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage says that a perfectly competitive market is a \u201chypothetical extreme\u201d i.e. it is merely theoretical and not practical. Thus, we can infer statement I. Statement II is not stated in the passage and III is not true according to the passage. Hence, option A.<\/p>\n Take Free MAH-CET mock tests here<\/a><\/strong><\/span><\/p>\n Enrol to 5 MAH CET Latest Mocks For Just Rs. 299<\/a><\/strong><\/span><\/p>\n Question 6:\u00a0<\/b>Why, according to the author, must a perfectly competitive firm be a small player in the overall market?<\/p>\n a)\u00a0The firm should not have higher bargaining power due to its significant size<\/p>\n b)\u00a0The firm should not have higher profit margins than its competitors due to economies of scale<\/p>\n c)\u00a0The increase or decrease in output of the firm should not alter the supply available in the market and hence indirectly affect the market price<\/p>\n d)\u00a0A large player may affect the flow of information in the overall market thereby distorting the market price<\/p>\n e)\u00a0None of the above<\/p>\n 6)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage states that \u201ca perfectly competitive firm must be a very small player in the overall market, so that it can increase or decrease output without noticeably affecting the overall quantity supplied and price in the market\u201d. Hence, option C.<\/p>\n Question 7:\u00a0<\/b>Why is agriculture a good example of perfect competition?<\/p>\n a)\u00a0There is very little distinction between same crops produced by different farmers<\/p>\n b)\u00a0It is a highly regulated market where prices are determined by the market<\/p>\n c)\u00a0There is a large amount of fluctuation in demand and supply from one season to another<\/p>\n d)\u00a0Data about farming is easily available from the US Dept of Agriculture<\/p>\n e)\u00a0None of the above<\/p>\n 7)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n One of the conditions for perfect competition to exist is that the products produced by different firms should be identical. The passage states that as the produce of different farmers is largely interchangeable, agriculture markets are good examples of perfect competition.<\/p>\n Hence, the correct option is option (a)<\/p>\n Question 8:\u00a0<\/b>The rules of perfect competition would definitely not apply to which of the following firms? a)\u00a0I and II only<\/p>\n b)\u00a0I, II and III only<\/p>\n c)\u00a0II, III and IV only<\/p>\n d)\u00a0I, III and IV only<\/p>\n e)\u00a0III and IV only<\/p>\n 8)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n One of the conditions mentioned for existence of perfect competition is that many firms should produce an identical product. In the case of III and IV, there are no competitors producing exactly same product as the firm. Hence, the rules of perfect competition would not apply to them.<\/p>\n Question 9:\u00a0<\/b>According to the author, who determines the price of wheat?<\/p>\n a)\u00a0The Government<\/p>\n b)\u00a0Market Supply and Demand<\/p>\n c)\u00a0Individual Farmers<\/p>\n d)\u00a0Wheat Buyers<\/p>\n e)\u00a0None of the above<\/p>\n 9)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage states that the price of wheat is not decided by individual farmers and is decided solely by the supply and demand in the market. Hence, the correct answer is option B.<\/p>\n Question 10:\u00a0<\/b>According to the passage, why is a perfectly competitive firm a price taker?<\/p>\n a)\u00a0A perfectly competitive firm is a price taker as it cannot afford to sell its products below the market price<\/p>\n b)\u00a0A perfectly competitive firm is a price taker as prices are determined by the buyers and not sellers of goods<\/p>\n c)\u00a0A perfectly competitive firm produces products that are identical to the products produced by its competitors<\/p>\n d)\u00a0A perfectly competitive firm cannot charge above the market price as it will lose all its customers<\/p>\n e)\u00a0None of the above<\/p>\n 10)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n According to the passage, a perfectly competitive firm cannot sell its goods above the market price as it would lose all of its customers to its competitors. Hence, it is forced to sell it at market price. Thus, the correct answer is option D.<\/p>\n Instructions<\/b><\/p>\n Read the following passage carefully and answer the question given below it Certain words\/phrases have been printed in bold to help you locate them while answering some of the questions<\/p>\n Once a king saw some young boys pelting<\/strong> stones on a snake. He prevented the boys from killing the snake. Thus he saved its life.The snake, which was the King of the Snake World, thanked him and favoured<\/strong> him with a supernatural gift by which he could understand the language of any animal. But he warned him that that divulgence of the secret would cost him his life. Question 11:\u00a0<\/b>Choose the word\/group of words which is most opposite in meaning to the word\/group of words printed in bold as used in the passage.RIGHTEOUS<\/p>\n a)\u00a0scared<\/p>\n b)\u00a0wrong<\/p>\n c)\u00a0honourable<\/p>\n d)\u00a0immoral<\/p>\n e)\u00a0weird<\/p>\n 11)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Righteous means virtuous or having good morals . Scared means feared. Wrong means incorrect or inappropriate. Hounarable means respectful . Weird means strange or awkward. Hence, D is correct.<\/p>\n Question 12:\u00a0<\/b>Choose the word\/group of words which is most opposite in meaning to the word\/group of words printed in bold as used in the passage.CONCEDED<\/p>\n a)\u00a0realized<\/p>\n b)\u00a0gave up<\/p>\n c)\u00a0resisted<\/p>\n d)\u00a0relaxed<\/p>\n e)\u00a0surrendered<\/p>\n 12)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Conceded means to admit , to allow or to grant freely. Realised means recognised . Gave up means to stop trying for something. Relaxed means rested. Resist means to stop free flow or to halt something.Hence,C.<\/span><\/p>\n Question 13:\u00a0<\/b>Choose the word\/group of word which is most similar in meaning to the word\/group of words printed in bold as used in the passage.PELTING<\/p>\n a)\u00a0throwing<\/p>\n b)\u00a0practising<\/p>\n c)\u00a0dropping<\/p>\n d)\u00a0wasting<\/p>\n e)\u00a0sticking<\/p>\n 13)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Pelting means attacking or chasing something. Here pelting means throwing. Practising means doing something repeatedly. Dropping means making something to fall or making some one get rid off. Wasting means Misusing. Sticking means holding on to something like a gum. Hence,A is correct<\/p>\n Question 14:\u00a0<\/b>Choose the word\/group of word which is most similar in meaning to the word\/group of words printed in bold as used in the passage.FAVOURED<\/p>\n a)\u00a0biased<\/p>\n b)\u00a0 c)\u00a0liked<\/p>\n d)\u00a0demanded<\/p>\n e)\u00a0presented<\/p>\n 14)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n Favoured as used in the passage means benefited by something. Presented is a close synonym. Hence,E. Biased means balanced. Witnessed means identified. Liked means favoured. Demand means to ask forcefully. <\/span><\/p>\n Question 15:\u00a0<\/b>Why did the king agree to tell the secret to the queen in the first place ?<\/p>\n a)\u00a0As the queen had been really persistent and had said that the King was dishonest<\/p>\n b)\u00a0As he had wanted to share the secret with someone for a very long time<\/p>\n c)\u00a0As he did not value his life much<\/p>\n d)\u00a0As he knew that by telling the queen his secret she too would get the same powers as him<\/p>\n e)\u00a0None of these<\/p>\n 15)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Refer to 2nd para 3&4 Lines,those mention that the king was asked by the curious queen to know the reason for his countenance. For not disclosing the fact,she called him a liar and a dishonest person. Hence,A<\/p>\n Question 16:\u00a0<\/b>Which of the following can be said about the King ? a)\u00a0Only A<\/p>\n b)\u00a0Only C<\/p>\n c)\u00a0Only A and B<\/p>\n d)\u00a0Only A and C<\/p>\n e)\u00a0All the three A,B,and C<\/p>\n 16)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Refer to 3rd para. It states that the king is righteous, which means noble and honest. Hence,D is correct.<\/span><\/p>\n Question 17:\u00a0<\/b>What was the condition on which the King agreed to tell the secret to the queen ?<\/p>\n a)\u00a0That the King would tell her the secret only if she left him for another man<\/p>\n b)\u00a0That once she was told the secret she would have to be killed<\/p>\n c)\u00a0That the queen would have to talk to animals once she knew the secret<\/p>\n d)\u00a0That the queen could never tell anyone else about the secret<\/p>\n e)\u00a0None of these<\/p>\n 17)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n Refer to 5th para 1st line.It states that the king agreed to disclose the secret to the queen if she accepts 100 Lashes on her back. Hence,E is correct.<\/p>\n Question 18:\u00a0<\/b>Why did the queen not receive the same honour and dignity as she had before ?<\/p>\n a)\u00a0As the King had left her and she was no longer the queen<\/p>\n b)<\/p>\n c)\u00a0As she had told the secret to everyone in the kingdom<\/p>\n d)\u00a0As she wanted to punish the King<\/p>\n e)\u00a0None of these<\/p>\n 18)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n The passage states that the even though, she intimidated the king ,he has given her the honour and status. Hence,E<\/span><\/p>\n Question 19:\u00a0<\/b>Which of the following words can be used to describe the queen ? a)\u00a0Only A<\/p>\n b)\u00a0Only B<\/p>\n c)\u00a0Only B and C<\/p>\n d)\u00a0Only A and C<\/p>\n e)\u00a0All the three A,B, and C<\/p>\n 19)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Prying means poking into one’s affairs. Selfish means doing things only for self. The passage says that the queen unnecessarily angered the king by intruding into his affairs. Also, she is mentioned to be selfish as she got rid off lashes inorder to replace the king’s secret sustain her queenship. Hence, C.<\/p>\n Question 20:\u00a0<\/b>Why did the King chuckle ?<\/p>\n a)\u00a0As he had heard an ant talking about the sweet fallen on the ground<\/p>\n b)\u00a0As he was enjoying his breakfast a lot<\/p>\n c)\u00a0As he knew that the queen could not hear the animals talk<\/p>\n d)\u00a0As he was very proud of his newly acquired power<\/p>\n e)\u00a0None of these<\/p>\n 20)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Solution:<\/b><\/p>\n Chuckle means to laugh quietly. Hence, refer to 2nd para 2nd line. It states that the king laughed at the words of ant stating that a big piece of sweet has fallen and nobody is ready to eat. Hence,A<\/p>\n Question 21:\u00a0<\/b>Why did the queen agree to the condition laid down by the King in order to know the secret ?<\/p>\n a)\u00a0As she was very strong physically and would endure the condition laid down<\/p>\n b)\u00a0As she thought that the King was only joking and would not actually do what he had said<\/p>\n c)\u00a0As the condition laid down by the king was not too difficult<\/p>\n d)\u00a0As she\u00a0desperately wanted to know the secret and would do anything in return<\/p>\n e)\u00a0None of these<\/p>\n 21)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n Question 22:\u00a0<\/b>Why did the snake give a gift to the King ?<\/p>\n a)\u00a0As the King did not kill the snake<\/p>\n b)\u00a0As the snake liked the king a lot<\/p>\n c)\u00a0As the king was an honourable man and wanted the gift<\/p>\n d)\u00a0As the king had saved the snake from a few boys who were trying to kill it with stones<\/p>\n e)\u00a0None of these<\/p>\n 22)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Refer to 1st para 2nd line which states that the king prevented boys from killing the snake and in return he received a boon. Hence,D<\/p>\n
\nI) A perfectly competitive market does not exist in real life
\nII) A firm in a perfectly competitive market cannot sell its products below market price due to regulations
\nIII) Agriculture is the only sector in which there is perfect competition<\/p>\n
\nI) A wheat farmer
\nII) A firm that produces standardized nuts and bolts
\nIII) A utilities company that has monopoly over electricity supply to an area
\nIV) A firm that has an exclusive patent over its products<\/p>\n
\nOne day, when the King was sitting in his garden and enjoying breakfast, a small portion of the sweet fell on the ground.Soon he heard an ant shouting, \u201cMy God\u201d, what a big wagon-ful of sweet has fallen and there is none to consume it.Ah ! I can enjoy all, now.\u201dHearing this, the King smiled and chuckled.The queen, who was sitting next to him,was curious to note the changing countenance of the King.She asked him to tell her the reason for the smile. But the King kept silence,she attacked his self-respect by calling him a \u201cliar\u201d and muttered that all his expressions of endearment like-You are dearer to me than my very life\u201d.-were nothing but a pack of lies.The King, however,could not bear the attacks on his self-respect and eventually conceded<\/strong> to divulge the secret on the following day in the royal,garden; and made up his mind to sacrifice his life.
\nA donkey overheard the King\u2019s resolve and decided to save him,because the King was righteous<\/strong>.So, he picked up one of his friends-the goat and they both decided to save the King.
\nNext day, when the King and his retinues were on the way to the royal park,the donkey and the goat stood conversing on one side of the path.The King overheard the goat saying to the donkey, \u201cYou are a fool but not as big a fool as in the king. \u201cHaving heard so, the King was curious to know as to why was he being called a \u201cbigger fool\u201d. So, he said to the goat. \u201cPray, then tell me what to do as I am now committed to tell her on her back\u201d.
\nWhen the King reached the garden he said to the queen \u201cI am now ready to tell you the secret on the condition<\/strong> that you are willing to receive one hundred lashes in return\u201d.The queen considered the condition a joke and nodded in agreement.The King then waved at one of his guards to lash her with all his power.And no sooner than she received two lashes she wailed and shouted \u201cNo ! No ! Stop, do not lash me ! I don\u2019t want to know the secret now\u201d.
\nThe King then said scornfully, \u201cYou wanted to know the secret at the cost of my life, but now you don\u2019t want to know because you have to save your skin.You deserve a few more lashes.\u201dBut before he could order his man to give her a few more lashes, the King\u2019s trustworthy minister intervened and requested him to forgive her.Thus the queen was not lashed further, yet she received the same honour and dignity.<\/p>\n<\/del>witnessed<\/p>\n
\n(A)He was noble
\n(B)He was impatient
\n(C)He was selfless<\/p>\n\n
\n(A)Loyal
\n(B)Selfish
\n(C)Prying<\/p>\n
\n<\/del>Refer to 5th para 2nd line. It states that the queen thought that the kings’s words were jokes and he may not punish her with lashes. Hence,B.<\/p>\n