POST UTME BSU 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm uses a transportation management system to manage its transportation operations. The system uses a route optimization algorithm to optimize the firm's delivery routes. What is the term for this algorithm?
A. Route optimization algorithm
B. Transportation management system
C. Logistics management system
D. Supply chain management system
Question 2
A company is considering investing in a new project. What is the main factor that determines the risk of the project?
A. Initial investment
B. Expected return on investment (ROI)
C. Break-even point
D. Uncertainty of the project
Question 3
A firm uses a just-in-time inventory system to manage its inventory levels. This system allows the firm to reduce its inventory costs and improve its cash flow. However, it also increases the firm's reliance on its suppliers. What is the term for this increased reliance?
A. Inventory risk
B. Supply chain risk
C. Cash flow risk
D. Market risk
Question 4
A firm's production function is given by the equation Q = 2L^(1/2)K^(1/2), where Q is the quantity produced, L is labor, and K is capital. If the firm uses 100 units of labor and 400 units of capital, what is the quantity produced?
A. 20
B. 40
C. 60
D. 80
Question 5
A firm specializes in producing a single product. This specialization allows the firm to achieve economies of scale in production. However, it also limits the firm's ability to respond to changes in market demand. What is the term for this limitation?
A. Economies of scale
B. Limited diversification
C. Inflexibility in production
D. High fixed costs
Question 6
A production system's efficiency is measured by its productivity, which is the ratio of output to input. Which of the following is a correct example of productivity?
A. The number of units produced per hour
B. The cost of production per unit
C. The ratio of output to input
D. The time taken to produce a unit
Question 7
A company is considering exporting its products to a foreign market. What is the main advantage of exporting?
A. Increased revenue
B. Improved brand reputation
C. Reduced costs
D. Increased market share
Question 8
A consumer's indifference curve is given by the equation U = 2x + 3y, where U is utility, x is the quantity of good X, and y is the quantity of good Y. If the consumer's budget constraint is 2x + 3y = 12, what is the consumer's optimal bundle?
A. (2, 4)
B. (3, 3)
C. (4, 2)
D. (5, 1)
Question 9
A consumer's budget constraint is given by the equation 2x + 3y = 12, where x is the quantity of good X and y is the quantity of good Y. If the consumer's indifference curve is given by the equation U = 2x + 3y, what is the consumer's optimal bundle?
A. (2, 4)
B. (3, 3)
C. (4, 2)
D. (5, 1)
Question 10
A firm uses a warehouse management system to track its inventory levels and manage its warehouse operations. The system uses a barcode scanning system to track inventory movements. What is the term for this system?
A. Radio frequency identification (RFID) system
B. Barcode scanning system
C. Warehouse management system
D. Inventory management system
Question 11
A company has two business units, A and B. Business unit A has a profit of ₦100,000, while business unit B has a profit of ₦50,000. If the company's total profit is ₦150,000, what is the ratio of business unit A's profit to business unit B's profit?
A. 2:1
B. 3:1
C. 4:1
D. 5:1
Question 12
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost compared to other countries. Which of the following is a correct example of comparative advantage?
A. Nigeria producing cotton and importing textiles from China
B. Nigeria producing textiles and importing cotton from China
C. Nigeria producing both cotton and textiles domestically
D. Nigeria importing both cotton and textiles from China
Question 13
A company is considering insuring its business against risks. What is the main advantage of insurance?
A. Reduced costs
B. Improved cash flow
C. Increased revenue
D. Protection against risks
Question 14
A company is considering insuring its business against risks. What is the main advantage of insurance?
A. Reduced costs
B. Improved cash flow
C. Increased revenue
D. Protection against risks
Question 15
A company is considering outsourcing its logistics operations to a third-party provider. What is the primary benefit of outsourcing logistics?
A. Reduced costs
B. Improved efficiency
C. Increased flexibility
D. Enhanced customer service

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