POST UTME BSU 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's warehousing and stock control system is designed to minimize the time spent on receiving, storing, and shipping goods. Which of the following is a key benefit of this system?
A. Reduced inventory costs
B. Improved customer satisfaction
C. Increased storage capacity
D. Enhanced supply chain visibility
Question 2
In a perfectly competitive market, what is the relationship between the marginal revenue (MR) and marginal cost (MC) curves?
A. MR > MC
B. MR < MC
C. MR = MC
D. MR ≠ MC
Question 3
A company is considering a new marketing strategy that involves creating a viral video campaign. However, the company is unsure about the potential risks associated with this strategy. What type of risk is the company facing?
A. Reputation risk
B. Strategic risk
C. Operational risk
D. Financial risk
Question 4
A bank's balance sheet is given by: Assets = Liabilities + Equity. If the bank's assets increase by 10% and its liabilities increase by 5%, what is the percentage change in its equity?
A. 2%
B. 5%
C. 7%
D. 10%
Question 5
A company is considering a new marketing strategy that involves partnering with a popular social media influencer. The influencer has a large following and is known for promoting products that align with the company's brand values. However, the influencer's fees are quite high, and the company is unsure if the partnership will generate sufficient returns on investment. What type of risk is the company facing?
A. Financial risk
B. Reputation risk
C. Strategic risk
D. Operational risk
Question 6
A bank offers a credit card with a 0% interest rate for the first 6 months. After the promotional period ends, the interest rate increases to 20%. What type of financial institution is this?
A. Commercial Bank
B. Investment Bank
C. Central Bank
D. Merchant Bank
Question 7
A sole trader has a business that generates an average monthly profit of ₦100,000. If the sole trader wants to expand the business, what is the minimum amount of capital required to increase the monthly profit by 20%?
A. ₦120,000
B. ₦150,000
C. ₦180,000
D. ₦200,000
Question 8
A bank's reserve requirement is 10%. If the bank has ₦100 million in deposits, what is the amount of reserves required?
A. ₦5 million
B. ₦10 million
C. ₦15 million
D. ₦20 million
Question 9
A company is considering a new production process that involves outsourcing some of its manufacturing to a third-party supplier. However, the company is unsure about the potential risks associated with this strategy. What type of risk is the company facing?
A. Supply chain risk
B. Operational risk
C. Strategic risk
D. Financial risk
Question 10
A sole trader's business is considered a separate legal entity from its owner. Discuss the implications of this separation on the owner's personal liability.
A. The owner's personal assets are protected from business debts.
B. The owner's personal assets are at risk of being seized to settle business debts.
C. The business is responsible for the owner's personal debts.
D. The owner's personal debts are not affected by the business's financial situation.
Question 11
A consumer purchases a product online, but upon receiving it, finds that it is damaged. The consumer contacts the company's customer service department, but they are unhelpful. What type of consumer protection law is most relevant in this situation?
A. Consumer Rights Act
B. Unfair Contract Terms Act
C. Distance Selling Regulations
D. Product Liability Act
Question 12
A company's revenue function is given by R = 100P - 2P^2. If the price elasticity of demand is -2, what is the cross-price elasticity of demand with respect to the price of a complementary good?
A. -4
B. -2
C. 0
D. 2
Question 13
A company has the following budget constraint: 2x + 3y = 12. If the price of x is ₦2 and the price of y is ₦3, how many units of y should the company produce to maximize its profit?
A. 4
B. 6
C. 8
D. 10
Question 14
A firm's marketing strategy involves a mix of advertising and public relations. Which of the following best describes the primary goal of this strategy?
A. To increase brand awareness
B. To generate leads
C. To build customer loyalty
D. To create a buzz around a new product
Question 15
A bank's financial statements show a significant increase in profits over the past year. However, the bank's return on equity (ROE) has decreased. What does this suggest about the bank's financial performance?
A. The bank is becoming more profitable
B. The bank is becoming less profitable
C. The bank's profitability is stable
D. The bank's financial performance is improving

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