POST UTME DELSU 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering entering a new market. What are the key factors that the company should consider when deciding whether to enter this market?
A. Market size, growth rate, and competition
B. Product demand, pricing, and distribution
C. Regulatory environment, taxes, and trade policies
D. Currency fluctuations, exchange rates, and inflation
Question 2
A company is considering two different modes of transport for its goods: road and rail. What are the key factors that the company should consider when deciding between these two modes?
A. Cost, speed, and reliability
B. Distance, weight, and volume
C. Fuel efficiency, maintenance, and safety
D. Environmental impact, security, and customs clearance
Question 3
A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's marginal revenue function is given by MR = 200 - 2Q, what is the firm's optimal price?
A. 20
B. 30
C. 40
D. 50
Question 4
In a perfectly competitive market, the demand curve for a firm's product is its marginal revenue curve. What is the implication of this for the firm's profit-maximizing output?
A. The firm will produce at the point where MR = MC.
B. The firm will produce at the point where MR = P.
C. The firm will produce at the point where MR = ATC.
D. The firm will produce at the point where MR = AFC.
Question 5
What is the main difference between a cartel and a monopoly in the context of international trade?
A. A cartel is a group of firms that agree to fix prices, while a monopoly is a single firm that controls the market
B. A cartel is a single firm that controls the market, while a monopoly is a group of firms that agree to fix prices
C. A cartel is a group of firms that agree to divide the market, while a monopoly is a single firm that controls the market
D. A cartel is a group of firms that agree to fix prices, while a monopoly is a firm that has a patent or copyright
Question 6
In a perfectly competitive market, the demand curve for a firm's product is its
A. marginal revenue curve
B. average revenue curve
C. marginal cost curve
D. average cost curve
Question 7
A company is considering outsourcing its production to a foreign country. What are the key factors that the company should consider when making this decision?
A. Labor costs, tax incentives, and trade agreements
B. Product quality, warranty, and customer support
C. Delivery time, packaging, and return policy
D. Language, currency, and cultural differences
Question 8
Under the Consumer Protection Act, what is the primary responsibility of the Consumer Protection Council (CPC) in relation to consumer protection?
A. To investigate consumer complaints and prosecute offenders
B. To provide education and awareness programs for consumers
C. To establish standards for consumer goods and services
D. To regulate consumer credit and debt
Question 9
What is the main advantage of using a just-in-time (JIT) inventory system?
A. Reduced inventory costs and improved inventory turnover
B. Improved product quality and reduced waste
C. Increased efficiency and reduced lead times
D. Improved customer service and increased sales
Question 10
A company's marketing strategy involves a 20% increase in advertising expenditure and a 15% decrease in sales promotion expenditure. What is the overall effect on the company's marketing mix?
A. The company's marketing mix will become more product-oriented.
B. The company's marketing mix will become more sales-oriented.
C. The company's marketing mix will become more promotion-oriented.
D. The company's marketing mix will become more price-oriented.
Question 11
In a contract of sale, what is the legal effect of a condition precedent?
A. The contract becomes binding as soon as the condition is fulfilled.
B. The contract is automatically terminated if the condition is not fulfilled.
C. The contract is suspended until the condition is fulfilled.
D. The contract is void ab initio.
Question 12
A customer deposits ₦10,000 into a savings account with an interest rate of 5% per annum. How much interest will be earned in one year?
A. ₦500
B. ₦1,000
C. ₦1,500
D. ₦2,000
Question 13
A marketing manager wants to advertise a new product on television. The cost of the advertisement is ₦500,000. If the company expects to sell 10,000 units of the product at ₦100 each, what is the return on investment (ROI)?
A. 100%
B. 80%
C. 60%
D. 50%
Question 14
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 labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output?
A. 10%
B. 12%
C. 15%
D. 18%
Question 15
A company's insurance policy covers business interruption, property damage, and liability. Which of the following is a type of insurance policy that covers business interruption?
A. Business interruption insurance
B. Property insurance
C. Liability insurance
D. Workers' compensation insurance

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