POST UTME ACHIEVERS UNIVERSITY 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's profit is given by the equation P(x) = 3x^2 - 2x - 5, where x is the number of units sold. If the company sells 4 units, what is the total profit?
A. ₦15
B. ₦25
C. ₦35
D. ₦45
Question 2
A company's marketing strategy involves a 20% discount on all products for the first week of the month. If a product originally costs ₦1,200, how much will a customer pay for it during the promotional period?
A. ₦960
B. ₦1,000
C. ₦1,200
D. ₦1,440
Question 3
A warehouse has a capacity of 1000 units. The warehouse is currently 75% full. If 200 units are added to the warehouse, what percentage of the warehouse is now full?
A. 50%
B. 60%
C. 70%
D. 80%
Question 4
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is the quantity produced, L is the number of laborers, and H is the number of machines. If the firm wants to increase its production by 25% while keeping the number of laborers constant, what percentage increase in the number of machines is required?
A. 12.5%
B. 25%
C. 37.5%
D. 50%
Question 5
A firm's revenue function is given by R = 100Q - 2Q^2, where R is revenue and Q is output. If the firm's output is increased by 20%, what is the percentage change in revenue?
A. 10%
B. 15%
C. 20%
D. 25%
Question 6
A sole trader is considering expanding their business by hiring additional staff. Which of the following is a key consideration for the sole trader?
A. The potential impact on the business's tax liability
B. The need to register the business as a limited company
C. The potential impact on the business's cash flow
D. The need to obtain additional funding
Question 7
A firm's production function is given by Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm's labor and capital are increased by 20% and 15% respectively, what is the percentage change in output?
A. 5%
B. 10%
C. 15%
D. 20%
Question 8
A company's sole trader is considering expanding its operations to a new market. However, the company's financial statements show a high level of debt and a low cash reserve. Which of the following financial ratios would be most relevant in assessing the company's ability to expand?
A. Debt-to-Equity Ratio
B. Current Ratio
C. Return on Equity (ROE)
D. Interest Coverage Ratio
Question 9
A sole trader has a business that sells goods worth ₦100,000. The sole trader has a 20% profit margin. What is the profit made by the sole trader?
A. ₦20,000
B. ₦25,000
C. ₦30,000
D. ₦35,000
Question 10
A consumer's indifference curve is given by the equation x^2 + 4y^2 = 16, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?
A. x = 4, y = 2
B. x = 3, y = 3
C. x = 2, y = 4
D. x = 1, y = 5
Question 11
In a perfectly competitive market, the supply curve is typically represented by a
A. Horizontal Line
B. Vertical Line
C. U-Shaped Curve
D. Inverted U-Shaped Curve
Question 12
A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?
A. x = 40, y = 20
B. x = 60, y = 10
C. x = 80, y = 5
D. x = 100, y = 0
Question 13
A consumer has purchased a product from a company, but the product has failed to meet the company's advertised standards. The consumer is seeking compensation for the product's failure. Which of the following legal principles would be most relevant in determining the consumer's entitlement to compensation?
A. Unfair Contract Terms Directive
B. Consumer Protection from Unfair Trading Regulations
C. Unfair Commercial Practices Directive
D. Consumer Rights Act
Question 14
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is the quantity produced, L is the number of laborers, and H is the number of machines. If the firm wants to increase its production by 25% while keeping the number of laborers constant, what percentage increase in the number of machines is required?
A. 12.5%
B. 25%
C. 37.5%
D. 50%
Question 15
A company is considering purchasing a new insurance policy to cover its business risks. The company's management is concerned about the policy's premium costs and the level of coverage provided. Which of the following insurance concepts would be most relevant in assessing the policy's value?
A. Actuarial Value
B. Expected Utility
C. Risk Aversion
D. Expected Utility and Risk Aversion

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