POST UTME RSU 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
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. 10
B. 12
C. 15
D. 20
Question 2
A company is considering outsourcing its logistics operations to a third-party provider. What are the potential benefits of this decision?
A. Reduced costs and increased efficiency
B. Improved customer service and increased sales
C. Increased competition and reduced market share
D. Reduced flexibility and increased dependence on the third-party provider
Question 3
A firm is considering investing in a new marketing campaign. The campaign has a budget of ₦500,000 and is expected to generate a return on investment (ROI) of 20%. What is the minimum required sales revenue for this campaign?
A. ₦1000000
B. ₦1200000
C. ₦1500000
D. ₦2000000
Question 4
A company's sole trader is considering expanding its operations to a foreign market. Which of the following is a key consideration in determining the feasibility of this expansion?
A. The company's financial resources
B. The availability of skilled labor in the foreign market
C. The level of competition in the foreign market
D. The company's ability to adapt to local business practices
Question 5
A company uses a transportation cost index to determine the most cost-effective mode of transportation. Which of the following is a characteristic of the transportation cost index?
A. It is a measure of the distance between two points
B. It is a measure of the weight of goods being transported
C. It is a measure of the cost of transportation per unit of weight
D. It is a measure of the speed of transportation
Question 6
A company uses the just-in-time (JIT) inventory system. What is the primary advantage of this system?
A. Reduced inventory costs
B. Improved quality control
C. Increased flexibility
D. Enhanced customer satisfaction
Question 7
A company is considering entering the foreign market through a joint venture with a local partner. What is the primary advantage of this approach?
A. Access to local market knowledge and resources
B. Reduced risk of cultural and language barriers
C. Increased competition from local players
D. Lower production costs due to economies of scale
Question 8
In a just-in-time (JIT) inventory system, what is the primary goal of the reorder point?
A. To minimize inventory costs
B. To maximize inventory turnover
C. To reduce lead time
D. To minimize stockouts
Question 9
A company is evaluating the feasibility of a new product launch. What is the primary consideration in this evaluation?
A. Market size and growth potential
B. Competitor analysis and market share
C. Product life cycle and competitive advantage
D. Production costs and pricing strategy
Question 10
A company is considering investing in a new marketing campaign. Which of the following is a key metric for evaluating the campaign's success?
A. Return on investment (ROI)
B. Return on equity (ROE)
C. Return on assets (ROA)
D. Net present value (NPV)
Question 11
A company's marketing strategy involves targeting a specific segment of the market. Which of the following is a key characteristic of this segment?
A. Demographics
B. Psychographics
C. Behavioral characteristics
D. Geographic location
Question 12
A company is considering launching a new product. Which of the following is a key factor in determining the product's potential for success?
A. Market size
B. Market growth rate
C. Competitor analysis
D. All of the above
Question 13
A commercial bank's primary function is to act as a _______ between the surplus units and the deficit units in the economy.
A. Financial intermediary
B. Investment bank
C. Merchant bank
D. Central bank
Question 14
A firm is considering investing in a new project. The project's expected cash flows are as follows: Year 1: ₦10,000, Year 2: ₦15,000, Year 3: ₦20,000. What is the present value of the project's cash flows, assuming a discount rate of 10%?
A. ₦12,000
B. ₦15,000
C. ₦18,000
D. ₦20,000
Question 15
A company's marketing mix consists of _______, _______, _______, and _______.
A. Product, price, promotion, and place
B. Product, price, promotion, and people
C. Product, price, promotion, and packaging
D. Product, price, promotion, and process

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