POST UTME UI 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company exports goods to a foreign country. Which of the following documents is most likely to be used?
A. Commercial Invoice
B. Bill of Lading
C. Certificate of Origin
D. Export Declaration
Question 2
In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing
A. diminishing returns
B. marginal utility
C. opportunity cost
D. law of supply
Question 3
A marketing manager wants to promote a new product using social media. Which of the following advertising strategies is most likely to increase brand awareness?
A. Influencer marketing
B. Content marketing
C. Search engine optimization
D. Email marketing
Question 4
A foreign trade agreement between two countries involves the exchange of goods and services. What is the primary benefit of this agreement?
A. Increased competition in the domestic market
B. Improved access to new markets and customers
C. Enhanced economic growth and development
D. Reduced trade barriers and tariffs
Question 5
A consumer purchases a product that is defective. Which of the following laws is most likely to protect the consumer?
A. Sales of Goods Act
B. Consumer Protection Act
C. Contract Act
D. Torts Act
Question 6
A company has a policy of paying its employees a 10% bonus on their annual salary. If an employee earns ₦500,000 per year, how much bonus will they receive?
A. ₦50,000
B. ₦5,000
C. ₦500,000
D. ₦50,000,000
Question 7
A firm is considering two different storage facilities. Facility A has a capacity of 1,000 units and a rental cost of ₦10 per unit per year. Facility B has a capacity of 2,000 units and a rental cost of ₦20 per unit per year. If the firm expects to store 1,500 units, which facility should it choose?
A. Facility A
B. Facility B
C. Both facilities are equally attractive
D. Neither facility is attractive
Question 8
A company has a production function given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to produce 100 units of output, how much labor and capital should it use?
A. L = 100, K = 100
B. L = 50, K = 200
C. L = 200, K = 50
D. L = 100, K = 50
Question 9
A company's warehouse is designed to store goods in a way that minimizes the risk of damage. Which of the following storage methods is most likely to be used?
A. First-In-First-Out (FIFO)
B. Last-In-First-Out (LIFO)
C. First-In-Last-Out (FILO)
D. Random Storage
Question 10
A company has a total revenue of ₦1,200,000 and a total cost of ₦900,000. What is the profit of the company?
A. ₦300,000
B. ₦200,000
C. ₦100,000
D. ₦50,000
Question 11
A consumer protection law requires that all goods sold in a market must have a warranty period of at least 2 years. If a product has a warranty period of 1 year and 6 months, does it comply with the law?
A. Yes
B. No
C. Maybe
D. It depends
Question 12
The diagram below shows a firm's cost curve. If the firm decides to produce more units of output, its
A. average fixed cost will decrease
B. average variable cost will increase
C. marginal cost will decrease
D. total fixed cost will increase
Question 13
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity of the product?
A. ₦100, 1000 units
B. ₦120, 800 units
C. ₦150, 600 units
D. ₦180, 400 units
Question 14
A company uses a just-in-time inventory system. What is the primary benefit of this system?
A. Reduced inventory costs
B. Improved cash flow management
C. Enhanced supply chain efficiency
D. Increased product variety
Question 15
A company is considering the introduction of a new product line. The product line is expected to generate additional revenue of ₦1.2 billion per annum, but it will also require an initial investment of ₦4.5 billion. The company's cost of capital is 10% per annum. What is the expected net present value (NPV) of the new product line?
A. ₦-1.8 billion
B. ₦-1.2 billion
C. ₦-0.9 billion
D. ₦0.6 billion

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: