POST UTME SKYLINE UNIVERSITY 2024 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
The concept of 'agency' in consumer protection law refers to the ability of consumers to act collectively to influence market outcomes. Which of the following best describes the primary mechanism by which consumers exercise this agency?
Question 2
A company is considering the introduction of a new product line. The product requires significant investments in research and development, marketing, and distribution. Which of the following financial metrics would be most relevant in evaluating the potential return on investment for this product?
Question 3
A company uses a just-in-time inventory system to manage its stock levels. If the company orders 100 units of a product and the lead time is 5 days, what is the reorder point if the daily demand is 20 units?
Question 4
A firm is considering two different production processes. Process A requires 2 units of labor and 3 units of capital to produce 6 units of output, while Process B requires 3 units of labor and 2 units of capital to produce 6 units of output. Which process has the higher opportunity cost of labor?
Question 5
A company is considering expanding its operations to a new market. Which of the following is a key factor to consider when evaluating the feasibility of this expansion?
Question 6
A company is launching a new product and wants to create a marketing campaign that will reach the target audience. Which of the following marketing strategies would be most effective?
Question 7
A firm specializes in producing two goods, A and B. The production of good A requires 2 units of labor and 1 unit of capital, while the production of good B requires 1 unit of labor and 2 units of capital. If the firm has 10 units of labor and 8 units of capital, what is the opportunity cost of producing 5 units of good A?
Question 8
In a just-in-time (JIT) inventory system, what is the primary goal of the reorder point?
Question 9
A company uses a just-in-time (JIT) inventory system to manage its inventory. The reorder point is set at 80% of the maximum capacity. If the maximum capacity is 10,000 units and the average daily demand is 200 units, what is the reorder point?
Question 10
A company has a warehouse with a capacity of 10,000 units. The average daily demand is 200 units, and the lead time is 5 days. What is the Economic Order Quantity (EOQ) if the ordering cost is ₦50 and the holding cost is ₦2 per unit per day?
Question 11
A firm specializes in producing only one good. This is an example of:
Question 12
A consumer is considering the purchase of a new product. The product has a recommended retail price of ₦20,000, but the consumer has found it on sale for ₦15,000. Which of the following is a key factor that the consumer should consider when deciding whether to purchase the product at the sale price?
Question 13
A bank offers a 5-year fixed deposit with an interest rate of 10% per annum compounded annually. If a customer deposits ₦100,000, what will be the future value of the investment after 5 years?
Question 14
A firm is considering exporting its products to a foreign market. The firm has estimated that the demand for its product in the foreign market is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to maximize its revenue, what price should it charge for its product?
Question 15
A company has a warehouse with a capacity of 10,000 units. The average daily demand is 200 units, and the lead time is 5 days. What is the safety stock if the standard deviation of demand is 50 units and the service level is 95%?
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