POST UTME CHRISTOPHER UNIVERSITY 2018 Commerce | Objective

Are you preparing for POST UTME CHRISTOPHER UNIVERSITY exams? Reviewing past questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2018 Commerce (Objective) questions designed to simulate the real exam environment.

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Question 1
In a consumer protection context, what is the primary purpose of the Consumer Protection Act?
A. To regulate business practices
Correct B. To protect consumers from unfair trade practices
C. To promote fair competition
D. To regulate consumer credit

Correct Answer: B

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Question 2
A company is considering launching a new product in a foreign market. What is the primary consideration for the company?
Correct A. Market size and growth potential
B. Competitor analysis
C. Regulatory environment
D. Cultural and social factors

Correct Answer: A

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Question 3
A consumer purchases a product online and receives a damaged item. What is the consumer's right under the Consumer Protection Act?
Correct A. To return the product and receive a full refund
B. To exchange the product for a new one
C. To claim compensation for damages
D. To file a complaint with the consumer protection agency

Correct Answer: A

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Question 4
A company is considering entering into a contract with a supplier. What is the primary consideration for the company?
Correct A. The supplier's reputation and creditworthiness
B. The terms and conditions of the contract
C. The price and payment terms
D. The delivery and logistics

Correct Answer: A

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Question 5
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
Correct D. Avoid purchasing from the company altogether

Correct Answer: D

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Question 6
In a perfectly competitive market, the supply curve is a
Correct A. Horizontal line
B. Vertical line
C. U-shaped curve
D. S-shaped curve

Correct Answer: A

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Question 7
A company's marketing strategy involves creating a new product line to target a specific demographic. This is an example of
A. Market segmentation
Correct B. Product differentiation
C. Target marketing
D. Positioning

Correct Answer: B

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Question 8
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
Correct C. ₦250
D. ₦300

Correct Answer: C

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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
Correct C. ₦250
D. ₦300

Correct Answer: C

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Question 10
A firm's demand function is given by Q = 100 - 2P. If the price is ₦20, how many units will be demanded?
A. 10
Correct B. 20
C. 30
D. 40

Correct Answer: B

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Question 11
The concept of consumer protection is closely related to which of the following?
A. Marketing and Advertising
B. Banking and Financial Institutions
Correct C. Business Law
D. Transport and Communication

Correct Answer: C

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Question 12
The diagram below represents a simple circuit. What is the function of the resistor labeled A?
Correct 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

Correct Answer: A

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Question 13
A company is considering launching a new product. Which of the following marketing strategies would be most effective in creating buzz around the product?
A. Social Media Marketing
Correct B. Influencer Marketing
C. Content Marketing
D. Event Marketing

Correct Answer: B

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Question 14
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
Correct C. Personal Loan
D. Overdraft Facility

Correct Answer: C

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Question 15
A consumer is considering purchasing a product online. Which of the following consumer protection laws would provide the most protection for the consumer?
Correct A. Consumer Protection Act
B. Fair Trading Act
C. Unfair Contract Terms Act
D. Distance Selling Regulations

Correct Answer: A

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Question 16
In a perfectly competitive market, the law of diminishing marginal utility implies that as the quantity of a good consumed increases, the marginal utility derived from each additional unit of the good will eventually
A. increase
Correct B. decrease
C. remain constant
D. become negative

Correct Answer: B

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Question 17
A company's production function is given by the equation Q = 2L^(1/2)K^(1/2), where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to increase its output by 20% while keeping the labor input constant at 16 units, what percentage increase in capital input is required?
A. 10%
B. 20%
Correct C. 30%
D. 40%

Correct Answer: C

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Question 18
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
Correct B. Modern technology
C. Both technologies are equally efficient
D. Neither technology is efficient

Correct Answer: B

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Question 19
A consumer has a budget of ₦1000 and faces the following price schedule: good A: ₦200, good B: ₦300. If the consumer's indifference curves are convex to the origin and the budget constraint is given by the equation 2x + 3y = 10, where x is the quantity of good A consumed and y is the quantity of good B consumed, what is the consumer's optimal consumption bundle?
A. (2, 2)
Correct B. (3, 1)
C. (4, 0)
D. (0, 4)

Correct Answer: B

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Question 20
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
Correct B. Penetration pricing strategy
C. Both strategies are equally profitable
D. Neither strategy is profitable

Correct Answer: B

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Question 21
A firm specializes in producing a single product, which is a key input for the production of another product. This is an example of
A. Product differentiation
Correct B. Product specialization
C. Economies of scale
D. Vertical integration

Correct Answer: B

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Question 22
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
Correct B. Investigate the manufacturer's claims
C. Provide a refund to the consumer
D. Issue a warning to the public

Correct Answer: B

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Question 23
A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦10,000, how much will be owed after 5 years?
Correct A. ₦16,386.16
B. ₦16,386.19
C. ₦16,386.21
D. ₦16,386.23

Correct Answer: A

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Question 24
A firm's production function is given by the equation ( Q = 2L^2 + 5K ), where Q is the quantity produced, L is the number of labor hours, and K is the amount of capital invested. If the firm wants to produce 100 units of output, how many labor hours are required if K = 10?
A. 20 labor hours
B. 30 labor hours
Correct C. 40 labor hours
D. 50 labor hours

Correct Answer: C

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Question 25
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
Correct B. 20 labor hours
C. 30 labor hours
D. 40 labor hours

Correct Answer: B

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