POST UTME FUTO 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's production function is given by Q = 100K^(1/2)L^(1/2), where Q is output, K is capital, and L is labor. If the firm's capital is increased by 25% and labor is increased by 10%, what is the new production level?
A. 125
B. 150
C. 175
D. 200
Question 2
A company's sole trader has a warehouse with a capacity of 10,000 units. If the company's average daily sales are 200 units, and the stock level is currently at 50% capacity, what is the minimum number of days the company can maintain its current sales rate without running out of stock?
A. 20 days
B. 30 days
C. 40 days
D. 50 days
Question 3
A company uses a transportation mode that involves the movement of goods by land, sea, and air. What type of transportation mode is this?
A. Multimodal transportation
B. Intermodal transportation
C. Multistage transportation
D. Multifaceted transportation
Question 4
A company has a production process that requires 2 hours of labor and 1 hour of capital. If the company has 8 hours of labor and 4 hours of capital available, what is the maximum number of units that can be produced?
A. 4
B. 6
C. 8
D. 10
Question 5
A company has a warehouse with a capacity of 10,000 units. If the company's average daily sales are 200 units, and the stock level is currently at 50% capacity, what is the minimum number of days the company can maintain its current sales rate without running out of stock?
A. 20 days
B. 30 days
C. 40 days
D. 50 days
Question 6
A firm specializes in producing a single product, which is a type of specialization. What is this type of specialization called?
A. Product specialization
B. Process specialization
C. Functional specialization
D. Geographic specialization
Question 7
A company has a warehouse with a capacity of 10,000 units. If the company's average daily sales are 200 units, and the stock level is currently at 50% capacity, what is the minimum number of days the company can maintain its current sales rate without running out of stock?
A. 20 days
B. 30 days
C. 40 days
D. 50 days
Question 8
A company uses a marketing strategy that focuses on creating a sense of urgency among customers to make a purchase. What type of marketing strategy is this?
A. Scarcity marketing
B. Limited-time offer
C. Scalability marketing
D. Value-based marketing
Question 9
A company is considering a new marketing strategy that involves partnering with a popular social media influencer. The influencer has a large following and is known for promoting products that align with the company's brand values. However, the company is concerned about the potential risks associated with partnering with an influencer, including the risk of reputational damage if the influencer promotes a product that is not aligned with the company's values. Which of the following is the most appropriate risk management strategy for the company?
A. Negotiating a contract with the influencer that includes a clause requiring the influencer to promote only products that align with the company's values
B. Conducting a thorough background check on the influencer to ensure they have a good reputation and are not associated with any negative brands
C. Requiring the influencer to disclose any potential conflicts of interest or affiliations with competing brands
D. Not partnering with the influencer at all due to the potential risks
Question 10
A consumer purchases a life insurance policy and pays premiums for several years. However, the consumer dies before the policy matures and the insurance company refuses to pay the death benefit. The consumer's estate sues the insurance company for breach of contract. Which of the following is the most likely outcome of the lawsuit?
A. The insurance company is found liable for breach of contract and must pay the death benefit
B. The consumer's estate is found liable for non-payment of premiums and must pay the insurance company
C. The lawsuit is dismissed due to lack of evidence
D. The insurance company is found not liable for breach of contract and the consumer's estate must pay the insurance company's legal fees
Question 11
A consumer protection agency is responsible for enforcing laws that protect consumers from unfair business practices. What is the name of this type of agency?
A. Consumer Protection Agency
B. Fair Trade Commission
C. Competition and Consumer Protection Commission
D. National Consumer Protection Board
Question 12
A company's revenue function is given by R(x) = 2x^2 + 5x - 3, where x is the number of units sold. If the company sells 10 units, what is the revenue?
A. 207
B. 217
C. 227
D. 237
Question 13
A company has a warehouse with a capacity of 10,000 units. If the company's average daily sales are 200 units, and the stock level is currently at 50% capacity, what is the minimum number of days the company can maintain its current sales rate without running out of stock?
A. 20 days
B. 30 days
C. 40 days
D. 50 days
Question 14
A company is considering expanding its operations to a new market. Which of the following factors should be considered when evaluating the feasibility of this expansion?
A. Market size and growth rate
B. Competition from existing players
C. Availability of raw materials
D. Government regulations
Question 15
A firm's revenue function is given by R(x) = 100x - 2x^2, where x is the number of units sold. If the firm sells 20 units, what is the total revenue?
A. 1500
B. 1600
C. 1700
D. 1800

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