POST UTME NILE UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's marketing mix involves the 4 Ps: product, price, promotion, and place. Which of the following is NOT one of the 4 Ps?
A. Product
B. Price
C. Promotion
D. Personnel
Question 2
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. Which of the following is a correct example of comparative advantage?
A. Country A produces 100 units of good X and 50 units of good Y, while Country B produces 50 units of good X and 100 units of good Y.
B. Country A produces 100 units of good X and 50 units of good Y, while Country B produces 50 units of good X and 50 units of good Y.
C. Country A produces 50 units of good X and 100 units of good Y, while Country B produces 100 units of good X and 50 units of good Y.
D. Country A produces 50 units of good X and 100 units of good Y, while Country B produces 50 units of good X and 50 units of good Y.
Question 3
A manufacturing company is considering outsourcing its production to a foreign country. Which of the following is a key advantage of this strategy?
A. Reduced labor costs
B. Increased market share
C. Improved product quality
D. Enhanced brand reputation
Question 4
A consumer protection agency is responsible for enforcing laws that protect consumers from unfair business practices. Which of the following is a type of unfair business practice?
A. False advertising
B. Price-fixing
C. Bait-and-switch
D. All of the above
Question 5
A company is planning to launch a new product in the market. Which of the following marketing strategies would be most effective in creating buzz around the product?
A. Social media advertising
B. Influencer marketing
C. Content marketing
D. Event marketing
Question 6
A bank is considering a loan application from a small business owner. The business owner has a credit score of 600 and a debt-to-equity ratio of 2:1. What is the likelihood that the bank will approve the loan?
A. High
B. Medium
C. Low
D. Very Low
Question 7
A consumer protection agency receives a complaint about a company's misleading advertising. The agency finds that the company has made false claims about the product's features and benefits. What type of consumer protection law is being violated?
A. Deceptive advertising
B. False labeling
C. Unfair competition
D. Bait and switch
Question 8
A firm's financial statements include the balance sheet, income statement, and cash flow statement. Which of the following is a type of financial statement?
A. Balance sheet
B. Income statement
C. Cash flow statement
D. All of the above
Question 9
A company is considering the introduction of a new product line. The product has a high potential for growth, but it also carries a high level of risk. Which of the following risk management strategies would be most appropriate for this situation?
A. Diversification
B. Hedging
C. Speculation
D. Risk avoidance
Question 10
A company is considering the introduction of a new business unit. The business unit will be responsible for managing the company's logistics and supply chain. Which of the following is a key advantage of this business unit?
A. Improved efficiency
B. Enhanced customer satisfaction
C. Increased profitability
D. Reduced costs
Question 11
A firm's communication management involves the exchange of information between the firm and its stakeholders. Which of the following is a type of communication management?
A. Internal communication
B. External communication
C. Public relations
D. All of the above
Question 12
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current labor and capital inputs are L = 16 and K = 9, respectively, what is the firm's current output?
A. 24
B. 36
C. 48
D. 64
Question 13
A consumer's budget constraint is given by the equation 2x + 3y = 12. If the consumer's current income is 12 and the price of good x is 2, what is the consumer's current consumption of good y?
A. 2
B. 4
C. 6
D. 8
Question 14
A firm's supply chain management involves the coordination of activities from raw materials to end customers. Which of the following is a type of supply chain management?
A. Just-in-time
B. Just-in-case
C. Vendor-managed inventory
D. All of the above
Question 15
A bank is considering a loan application from a small business owner. The business owner has a credit score of 600 and a debt-to-equity ratio of 2:1. What is the likelihood that the bank will approve the loan?
A. High
B. Medium
C. Low
D. Very Low

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