POST UTME RSU 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer sues a company for false advertising. The consumer alleges that the company's advertisement was misleading and caused them financial loss. Which of the following is a possible defense for the company?
A. The advertisement was truthful and not misleading
B. The consumer was not affected by the advertisement
C. The company had no control over the advertisement
D. The consumer did not suffer any financial loss
Question 2
A sole trader has a business that generates an annual profit of ₦500,000. What is the trader's tax liability?
A. ₦100,000
B. ₦200,000
C. ₦300,000
D. ₦400,000
Question 3
A firm's demand function is given by P = 100 - 2Q. If the firm's marginal revenue function is MR = 200 - 4Q, what is the firm's optimal quantity?
A. 20 units
B. 30 units
C. 40 units
D. 50 units
Question 4
A consumer purchases a product with a price tag of ₦10,000. The consumer pays with a credit card that charges a 5% interest rate. What is the total amount paid by the consumer?
A. ₦10,500
B. ₦10,600
C. ₦10,700
D. ₦10,800
Question 5
A firm produces two goods, A and B. The production function for good A is given by Q_A = 2L + 3K, where L is labor and K is capital. The production function for good B is given by Q_B = 4L + 2K. If the firm has 10 units of labor and 5 units of capital, what is the total output of the firm?
A. 30
B. 40
C. 50
D. 60
Question 6
A company has a warehouse with a capacity of 1000 units. If it receives an order for 500 units, what is the probability that the warehouse will be empty?
A. 0.5
B. 0.25
C. 0.75
D. 0.1
Question 7
A company uses a warehouse management system to manage its inventory. Which of the following is a benefit of using a warehouse management system?
A. It improves inventory accuracy
B. It reduces labor costs
C. It increases storage capacity
D. It improves shipping efficiency
Question 8
A consumer's indifference curve is given by U(x,y) = 2x + 3y. If the consumer's income is increased by 10%, what is the new indifference curve?
A. U(x,y) = 2.2x + 3.3y
B. U(x,y) = 2.2x + 3y
C. U(x,y) = 2x + 3.3y
D. U(x,y) = 2x + 3y
Question 9
A company is considering exporting its product to a foreign market. The company's cost of production is ₦500 per unit, and the selling price in the foreign market is ₦700 per unit. If the exchange rate is 1 USD = 500 Naira, what is the company's profit per unit in USD?
A. ₦1.40
B. ₦1.60
C. ₦1.80
D. ₦2.00
Question 10
A company is considering two different production processes for its new product. Process A requires an initial investment of ₦1.5 million and has a variable cost of ₦200 per unit. Process B requires an initial investment of ₦1 million and has a variable cost of ₦300 per unit. If the selling price of the product is ₦500 per unit, what is the minimum number of units that must be produced and sold for Process A to be more profitable than Process B?
A. 1000 units
B. 1500 units
C. 2000 units
D. 2500 units
Question 11
A company's marketing strategy involves creating a sense of urgency among customers to purchase its products. This tactic is an example of which of the following?
A. Scarcity principle
B. Herd mentality
C. Loss aversion
D. Endowment effect
Question 12
A company is considering two marketing strategies: Strategy A, which involves a 10% increase in advertising expenditure, and Strategy B, which involves a 20% decrease in advertising expenditure. If the current advertising expenditure is ₦100,000, what is the total advertising expenditure for each strategy?
A. ₦110,000
B. ₦90,000
C. ₦120,000
D. ₦80,000
Question 13
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to maximize revenue, what is the optimal price?
A. ₦20
B. ₦30
C. ₦40
D. ₦50
Question 14
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
C. To reduce lead times
D. To increase inventory turnover
Question 15
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity in this market?
A. ₦100, 1000 units
B. ₦120, 800 units
C. ₦150, 600 units
D. ₦180, 400 units

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: