POST UTME CRAWFORD UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a fleet of 20 vehicles, including 10 trucks and 10 cars. If 5 vehicles are sold, what is the new ratio of trucks to cars?
A. 1:1
B. 2:1
C. 3:2
D. 4:3
Question 2
A company is considering a new marketing strategy that involves creating a social media campaign to promote its products. The campaign will be run for 6 months, with a budget of ₦1,500,000. The company expects to generate a return on investment (ROI) of 20% per month. What is the total ROI for the 6-month period?
A. ₦3,000,000
B. ₦3,600,000
C. ₦4,200,000
D. ₦4,800,000
Question 3
A company has a production cost of 10 per unit for Product A and 15 per unit for Product B. The company sells Product A for 20 per unit and Product B for 30 per unit. If the company produces 100 units of Product A and 50 units of Product B, what is the total revenue of the company?
A. 2500
B. 3000
C. 3500
D. None of the above
Question 4
A firm is considering two different production technologies for its new product. Technology A involves a higher upfront cost of ₦500,000, but is expected to reduce production costs by 20% over the next 5 years. Technology B involves a lower upfront cost of ₦200,000, but is expected to reduce production costs by 10% over the next 5 years. What is the present value of the cost savings for each technology, assuming a discount rate of 10%?
A. Technology A has a higher present value of cost savings
B. Technology B has a higher present value of cost savings
C. Both technologies have the same present value of cost savings
D. Neither technology has a positive present value of cost savings
Question 5
A company is considering two different storage options for its products. Option A costs ₦500 per unit and has a capacity of 1000 units, while Option B costs ₦300 per unit and has a capacity of 500 units. If the company needs to store 2000 units, which option should it choose?
A. Option A
B. Option B
C. Both options are equally expensive
D. Neither option is suitable
Question 6
A firm's production function is given by Q = 2L^0.4K^0.3, where Q is output, L is labor, and K is capital. If the firm's current labor and capital inputs are 100 units and 200 units, respectively, what is the marginal product of labor?
A. 0.8
B. 1.6
C. 2.4
D. 3.2
Question 7
A company has a warehouse with a capacity of 10,000 units. The company receives a shipment of 8,000 units and then sells 2,000 units. What is the new stock level?
A. 8,000 units
B. 6,000 units
C. 10,000 units
D. 12,000 units
Question 8
A company is considering the establishment of a sole proprietorship business. What are the advantages of a sole proprietorship business?
A. Easy to establish and operate
B. Limited liability for the owner
C. Flexibility in management and decision-making
D. All of the above
Question 9
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to regulate the money supply in the economy. Which of the following is NOT a monetary policy tool used by the CBN?
A. Reserve Requirements
B. Open Market Operations
C. Fiscal Policy
D. Discount Rate
Question 10
A company has a risk management strategy that involves diversifying its investments across different asset classes. The company invests 60% of its portfolio in stocks, 20% in bonds, and 20% in real estate. What is the expected return on investment (ROI) for the portfolio?
A. 10%
B. 12%
C. 15%
D. 18%
Question 11
A firm has a production capacity of 5,000 units per month. The firm produces 3,000 units in the first month and 4,000 units in the second month. What is the total production level for the two months?
A. 7,000 units
B. 8,000 units
C. 9,000 units
D. 10,000 units
Question 12
A consumer has a utility function given by ( U(x,y) = 2x + 3y ), where x and y are the quantities of two different goods consumed. The prices of the two goods are ₦5 and ₦3 respectively. What is the consumer's optimal consumption plan?
A. Buy 2 units of good x and 1 unit of good y
B. Buy 1 unit of good x and 2 units of good y
C. Buy 3 units of good x and 0 units of good y
D. Buy 0 units of good x and 3 units of good y
Question 13
A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's current price is ₦50, what is the marginal revenue?
A. ₦100
B. ₦50
C. ₦-50
D. ₦-100
Question 14
Under the Consumer Protection Act, 1999, a consumer is entitled to a refund or replacement of a defective product within a reasonable time. What is the legal basis for this entitlement?
A. Section 20 of the Consumer Protection Act, 1999
B. Section 21 of the Consumer Protection Act, 1999
C. Section 22 of the Consumer Protection Act, 1999
D. Section 23 of the Consumer Protection Act, 1999
Question 15
In a perfectly competitive market, the supply curve is upward-sloping because
A. Firms are willing to supply more of a good as its price increases.
B. Firms are willing to supply less of a good as its price increases.
C. Firms are willing to supply more of a good as its price decreases.
D. Firms are willing to supply less of a good as its price decreases.

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