POST UTME RSU 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A country is considering implementing a policy to reduce its trade deficit. What is one possible policy that the country could implement?
A. Imposing tariffs on imports
B. Reducing government spending
C. Increasing taxes on exports
D. Devaluing its currency
Question 2
A bank's cash reserve ratio is 20%. If the bank has ₦100 million in deposits, how much cash must it reserve?
A. ₦20 million
B. ₦30 million
C. ₦40 million
D. ₦50 million
Question 3
A company uses the 'pull' strategy in its marketing efforts. What is the primary characteristic of this strategy?
A. Focus on customer needs
B. Emphasis on product features
C. Use of advertising and promotions
D. Targeting a specific market segment
Question 4
A company is considering the use of a new marketing channel. The company wants to ensure that the channel is effective in reaching the target audience. Which of the following metrics would be most relevant in evaluating the effectiveness of the channel?
A. Return on investment (ROI)
B. Return on ad spend (ROAS)
C. Conversion rate
D. Customer acquisition cost (CAC)
Question 5
A company uses the 'push' strategy in its marketing efforts. What is the primary characteristic of this strategy?
A. Focus on customer needs
B. Emphasis on product features
C. Use of advertising and promotions
D. Targeting a specific market segment
Question 6
A company uses the just-in-time (JIT) inventory system. What is the primary benefit of this system?
A. Reduced inventory costs
B. Improved product quality
C. Increased production efficiency
D. Enhanced customer satisfaction
Question 7
A consumer protection agency has received a complaint about a company's unfair business practices. The agency has the power to investigate and take legal action against the company. What is the primary purpose of this agency?
A. To promote fair competition among businesses
B. To protect consumers from unfair business practices
C. To regulate the prices of goods and services
D. To provide consumer education and awareness
Question 8
A marketing manager is responsible for creating an advertising campaign for a new product. The campaign includes a 30-second TV commercial and a social media campaign. What is the impact of this campaign on the company's brand awareness?
A. The company's brand awareness increases by 20%.
B. The company's brand awareness decreases by 10%.
C. The company's brand awareness is not affected by the campaign.
D. The company's brand awareness increases by 5%.
Question 9
A firm's demand function is given by Q = 100 - 2P. If the firm wants to maximize its revenue, what is the optimal price?
A. ₦20
B. ₦30
C. ₦40
D. ₦50
Question 10
A company uses the 'push' strategy in its marketing efforts. What is the primary characteristic of this strategy?
A. Focus on customer needs
B. Emphasis on product features
C. Use of advertising and promotions
D. Targeting a specific market segment
Question 11
A company is considering investing in a new project that has a high potential return on investment, but also carries a high level of risk. What is the primary consideration for the company when deciding whether to invest in the project?
A. The expected return on investment
B. The level of risk associated with the project
C. The company's current financial situation
D. The potential impact on the company's reputation
Question 12
A firm's marketing research involves the collection and analysis of data to inform business decisions. What is the primary purpose of this process?
A. To identify market trends
B. To develop new products
C. To improve customer satisfaction
D. To increase sales
Question 13
A company is considering the introduction of a new product line. The product requires a significant investment in marketing and advertising. Which of the following marketing strategies would be most effective in reaching the target audience?
A. Social media marketing
B. Influencer marketing
C. Content marketing
D. Event marketing
Question 14
A consumer has the following indifference curves: IC1: 2U + 3V = 6, IC2: 2U + 3V = 12. If the consumer is initially at point A(2, 1), and the price of good U is ₦5 per unit, while the price of good V is ₦10 per unit, what is the consumer's optimal bundle?
A. (4, 2)
B. (6, 3)
C. (8, 4)
D. (10, 5)
Question 15
A consumer has the following budget constraint: 2U + 3V = 12. If the consumer is indifferent between the following two bundles: (U, V) = (4, 2) and (U, V) = (6, 1), what is the consumer's marginal rate of substitution?
A. 1/2
B. 1
C. 2
D. 3

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