POST UTME ESUT 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's foreign trade involves importing and exporting goods. Which of the following is a benefit of exporting?
A. It increases the company's revenue
B. It decreases the company's costs
C. It increases the company's market share
D. It decreases the company's market share
Question 2
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 3
A warehouse has a storage capacity of 10,000 units. If the warehouse is currently 70% full, how many more units can be stored?
A. 3,500 units
B. 4,000 units
C. 4,500 units
D. 5,000 units
Question 4
A firm produces two products, A and B. The production function for product A is Q_A = 2L^0.5H^0.5, where Q_A is output, L is labor, and H is capital. The production function for product B is Q_B = 3L^0.5H^0.5, where Q_B is output, L is labor, and H is capital. If the firm wants to increase output of product A by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 5
A firm's marketing mix involves the 4 Ps: product, price, promotion, and place. Which of the following is NOT a characteristic of a product?
A. It is unique
B. It is of high quality
C. It is environmentally friendly
D. It is a service
Question 6
A company has a sole proprietorship business. The company's assets are ₦500,000, and its liabilities are ₦200,000. What is the company's equity?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Question 7
A firm is considering purchasing a new insurance policy to cover its business risks. The policy costs ₦1 million per year and will pay out ₦5 million in the event of a loss. What is the expected value of the policy?
A. ₦4 million
B. ₦5 million
C. ₦6 million
D. ₦7 million
Question 8
A company is considering expanding its operations to a new market. Which of the following is a key factor to consider in this decision?
A. Market size and growth rate
B. Competitor analysis
C. Supply chain management
D. Financial resources
Question 9
A company is considering two marketing strategies: product differentiation and market segmentation. Which strategy is more likely to increase market share?
A. Product differentiation
B. Market segmentation
C. Both strategies are equally effective
D. Neither strategy is effective
Question 10
A company is importing goods from a foreign country. What is the primary responsibility of the company in terms of customs clearance?
A. Ensuring that the goods are properly declared
B. Complying with customs regulations and procedures
C. Providing adequate documentation
D. Paying the correct duties and taxes
Question 11
A firm is considering investing in a new transportation system to improve its logistics. Which of the following transportation modes would be most suitable?
A. Air transportation
B. Land transportation
C. Sea transportation
D. Rail transportation
Question 12
A firm is considering investing in a new logistics system. The system will cost ₦10 million to implement and will save the firm ₦5 million per year in transportation costs. What is the payback period of the investment?
A. 2 years
B. 3 years
C. 4 years
D. 5 years
Question 13
A company has a policy of paying its employees a fixed salary of ₦50,000 per month, plus a commission of 10% on sales. If the employee's total earnings for the month are ₦75,000, what is the amount of sales?
A. ₦750,000
B. ₦600,000
C. ₦500,000
D. ₦450,000
Question 14
A company's risk management strategy involves identifying, assessing, and mitigating risks. Which of the following is a type of risk?
A. Financial risk
B. Operational risk
C. Strategic risk
D. All of the above
Question 15
A company is developing a new marketing campaign to promote its product. Which of the following marketing strategies would be most effective?
A. Segmentation, targeting, and positioning
B. Product placement
C. Social media marketing
D. Influencer marketing

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