POST UTME CHRISTOPHER UNIVERSITY 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a warehouse with a capacity of 10,000 units. If they receive a shipment of 5,000 units, what is the new capacity of the warehouse?
A. 5,000 units
B. 10,000 units
C. 15,000 units
D. 20,000 units
Question 2
The diagram below represents a simple circuit. What is the function of the resistor labeled A?
A. To reduce the voltage across the circuit
B. To increase the current flowing through the circuit
C. To regulate the power consumption of the circuit
D. To protect the circuit from electrical shock
Question 3
A consumer protection agency receives a complaint about a product that is not as described on the packaging. The agency's first step would be to
A. Conduct a recall of the product
B. Investigate the manufacturer's claims
C. Provide a refund to the consumer
D. Issue a warning to the public
Question 4
A firm is considering two different production technologies: a traditional technology that requires 10 units of labor and 5 units of capital to produce 100 units of output, and a modern technology that requires 8 units of labor and 3 units of capital to produce 120 units of output. If the firm has 20 units of labor and 10 units of capital available, which technology should it adopt to maximize its output?
A. Traditional technology
B. Modern technology
C. Both technologies are equally efficient
D. Neither technology is efficient
Question 5
A firm's cost function is given by C(x) = 2x^2 + 10x + 5. If the firm produces 20 units, what is the total cost?
A. ₦150
B. ₦200
C. ₦250
D. ₦300
Question 6
A firm is considering two different marketing strategies: a high-low pricing strategy and a penetration pricing strategy. If the firm's demand function is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price, and the firm's cost function is given by the equation C = 50 + 2Q, where C is the total cost, which strategy should the firm adopt to maximize its profit?
A. High-low pricing strategy
B. Penetration pricing strategy
C. Both strategies are equally profitable
D. Neither strategy is profitable
Question 7
A sole trader's business is considered a separate legal entity from its owner. However, in the event of a lawsuit, the owner's personal assets may be at risk. What is the name of this risk?
A. Unlimited liability
B. Limited liability
C. Joint and several liability
D. Strict liability
Question 8
In a perfectly competitive market, the supply curve is a
A. Horizontal line
B. Vertical line
C. U-shaped curve
D. S-shaped curve
Question 9
A company's revenue function is given by R(x) = 3x^2 - 2x + 1. If the company produces 15 units, what is the total revenue?
A. ₦150
B. ₦200
C. ₦250
D. ₦300
Question 10
A consumer is considering purchasing a product from a company that has a poor reputation for customer service. What should the consumer do?
A. Purchase the product and hope for the best
B. Research the company's customer service policies
C. Contact the company's customer service department
D. Avoid purchasing from the company altogether
Question 11
A bank's cash reserve ratio is 10%. If the bank has a cash reserve of ₦1,000,000, what is the maximum amount of new loans it can make?
A. ₦9,000,000
B. ₦10,000,000
C. ₦11,000,000
D. ₦12,000,000
Question 12
A firm's cost function is given by the equation ( C = 2L + 5K ), where C is the total cost, L is the number of labor hours, and K is the amount of capital invested. If the firm wants to minimize its costs, how many labor hours should it hire if K = 10?
A. 10 labor hours
B. 20 labor hours
C. 30 labor hours
D. 40 labor hours
Question 13
A bank is considering offering a new loan product to its customers. Which of the following financial instruments would be most suitable for this product?
A. Mortgage
B. Credit Card
C. Personal Loan
D. Overdraft Facility
Question 14
A life insurance policy has a premium of ₦50,000 per annum. The policy pays out ₦1,000,000 in the event of the policyholder's death. What is the policy's benefit-cost ratio?
A. 1:20
B. 1:50
C. 1:100
D. 1:200
Question 15
A company has a turnover of ₦1,200,000 and a profit of ₦150,000. If the company's capital is ₦500,000, what is its return on investment (ROI)?
A. 15%
B. 20%
C. 25%
D. 30%

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