POST UTME OAU 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has a production process that involves two stages: Stage 1 and Stage 2. The probability of success in Stage 1 is 0.8, and the probability of success in Stage 2 is 0.9, given that Stage 1 is successful. What is the probability that the production process will be successful?
Question 2
In a foreign trade transaction, a Nigerian exporter sold goods worth ₦5,000,000 to a foreign buyer. The exporter's bank charged a commission of 2% on the transaction value. If the exporter's bank also deducted a bank transfer fee of ₦25,000, what is the total amount received by the exporter?
Question 3
Under the Consumer Protection Act, what is the primary responsibility of a consumer in a contract?
Question 4
A company's foreign trade policy is influenced by the following factors: political, economic, social, and technological. Which of the following is a factor that affects a company's foreign trade policy?
Question 5
In a foreign trade transaction, a Nigerian exporter sells a consignment of goods to a buyer in the United States. The exporter is paid in US dollars, but the exporter's bank charges a commission of 2% on the transaction value. If the transaction value is 10,000, what is the amount of commission paid to the exporter's bank?
Question 6
A firm's break-even point is the point at which its total revenue equals its total fixed costs. Which of the following is a factor that affects a firm's break-even point?
Question 7
A consumer protection agency has the power to investigate complaints against businesses and to impose penalties for non-compliance with consumer protection laws. If a business is found to have engaged in unfair trade practices, what is the maximum penalty that the agency can impose?
Question 8
A company's marketing strategy involves a 10% discount on all products sold during a promotional period. If a customer purchases a product worth ₦10,000, what is the amount paid by the customer?
Question 9
A company's production function is given by the equation ( Q = 100L^0.5K^0.25 ), where Q is the quantity produced, L is the number of labor hours, and K is the capital invested. If the company wants to increase its production by 20% while keeping the capital invested constant, what percentage increase in labor hours is required?
Question 10
A company's financial statement shows a net loss of ₦500,000. Which of the following is a possible reason for this net loss?
Question 11
A firm's decision to export goods is influenced by the following factors: market demand, production costs, transportation costs, and exchange rates. Which of the following is NOT a factor that affects a firm's decision to export goods?
Question 12
A company has a warehouse with a capacity of 10,000 units. If 8,000 units are already stored, what is the remaining capacity?
Question 13
A consumer protection agency has the power to investigate complaints against businesses and to impose penalties for non-compliance with consumer protection laws. If a business is found to have engaged in unfair trade practices, what is the first step that the agency should take?
Question 14
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?
Question 15
A consumer protection agency received a complaint from a customer who purchased a defective product worth ₦20,000. The customer was offered a replacement product, but the agency discovered that the manufacturer had a history of producing defective products. What action should the agency take?
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