POST UTME OAU 2021 Commerce | Objective

Are you preparing for POST UTME OAU exams? Reviewing past questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2021 Commerce (Objective) questions designed to simulate the real exam environment.

Practice these randomly selected questions to test your readiness.

Question 1
In a just-in-time (JIT) inventory system, what is the primary goal of the warehouse manager?
A. To minimize inventory costs
B. To maximize storage capacity
Correct C. To reduce lead times
D. To increase inventory turnover

Correct Answer: C

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Question 2
A bank offers a 5-year fixed deposit account with an interest rate of 8% per annum compounded annually. If ₦ 10,000 is deposited, what will be the future value after 5 years?
Correct A. ₦ 16,386.16
B. ₦ 16,384.16
C. ₦ 16,385.16
D. ₦ 16,387.16

Correct Answer: A

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Question 3
A company has a warehouse with a capacity to store 10,000 units of goods. The warehouse is currently 70% full. If 500 units of goods are received, what will be the new percentage of the warehouse that is full?
A. 60%
Correct B. 65%
C. 70%
D. 75%

Correct Answer: B

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Question 4
A ship is traveling from Lagos to Port Harcourt. The distance between the two cities is 500 km. If the ship travels at an average speed of 50 km/h, how many hours will it take to cover the distance?
A. 10 hours
Correct B. 11 hours
C. 12 hours
D. 13 hours

Correct Answer: B

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Question 5
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's annual salary is ₦ 100,000, what will be the bonus amount?
Correct A. ₦ 10,000
B. ₦ 9,000
C. ₦ 11,000
D. ₦ 12,000

Correct Answer: A

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Question 6
In a market economy, the law of supply and demand determines the price of a commodity. However, the government may intervene to regulate prices in order to protect consumers. Which of the following is a potential consequence of government price regulation?
A. Increased competition among firms
B. Reduced consumer choice
Correct C. Inefficient allocation of resources
D. Increased government revenue

Correct Answer: C

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Question 7
A company produces two products, A and B, using two inputs, labor and capital. The production function for product A is given by Q_A = 2L^0.5K^0.5, where Q_A is the quantity of product A produced, L is the amount of labor used, and K is the amount of capital used. The production function for product B is given by Q_B = 3L^0.7K^0.3. If the company has 100 units of labor and 50 units of capital, how many units of product A and product B should the company produce to maximize profit?
A. Q_A = 20, Q_B = 30
Correct B. Q_A = 25, Q_B = 35
C. Q_A = 30, Q_B = 20
D. Q_A = 35, Q_B = 25

Correct Answer: B

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Question 8
A consumer has a budget of ₦10,000 and a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are ₦2,000 and ₦3,000 respectively, how much of each good should the consumer buy to maximize utility?
A. x = 2, y = 3
Correct B. x = 3, y = 2
C. x = 4, y = 1
D. x = 1, y = 4

Correct Answer: B

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Question 9
A company has a production function given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the amount of labor used, and K is the amount of capital used. If the company has 100 units of labor and 50 units of capital, how much should it produce to minimize cost?
Correct A. Q = 20
B. Q = 25
C. Q = 30
D. Q = 35

Correct Answer: A

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Question 10
A consumer has a budget of ₦10,000 and a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are ₦2,000 and ₦3,000 respectively, how much of each good should the consumer buy to maximize utility?
A. x = 2, y = 3
Correct B. x = 3, y = 2
C. x = 4, y = 1
D. x = 1, y = 4

Correct Answer: B

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