POST UTME UNIBEN 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is planning to launch a new marketing campaign in Nigeria. The company wants to target a specific segment of the market. What marketing research technique should the company use to identify the target market?
A. Focus group discussion
B. Surveys
C. Content analysis
D. Experimental design
Question 2
A firm wants to determine the optimal price for its product. The demand function for the product is given by the equation ( P = 100 - 2Q ), where P is the price and Q is the quantity demanded. If the firm wants to maximize its revenue, what should it do?
A. Set P = 50
B. Set P = 75
C. Set P = 100
D. Set P = 125
Question 3
A firm's production function is characterized by the law of
A. Increasing returns to scale
B. Decreasing returns to scale
C. Constant returns to scale
D. Diminishing returns
Question 4
A company's marketing strategy involves creating a brand image that is perceived as luxurious and exclusive. This is an example of?
A. Product Differentiation
B. Segmentation
C. Positioning
D. Target Marketing
Question 5
A consumer purchases a product from a retailer who is not the manufacturer. The product is defective and causes harm to the consumer. What liability does the retailer have in this scenario?
A. Strict liability
B. Negligence
C. Product liability
D. Breach of warranty
Question 6
A company has a 10% chance of winning a contract worth 100,000. What is the expected value of the contract?
A. 10,000
B. 20,000
C. 30,000
D. 40,000
Question 7
A company is considering exporting its products to a foreign country. Which of the following is a type of export that the company should consider?
A. Direct export
B. Indirect export
C. Export through a trading company
D. Export through a joint venture
Question 8
A company is considering importing a product from a foreign country. Which of the following is a type of import that the company should consider?
A. Direct import
B. Indirect import
C. Import through a trading company
D. Import through a joint venture
Question 9
A company has two warehouses, A and B, located 100 km apart. Warehouse A has 500 units of a product, and Warehouse B has 300 units of the same product. The transportation cost per unit from Warehouse A to Warehouse B is ₦50, and the transportation cost per unit from Warehouse B to Warehouse A is ₦75. If the company wants to minimize the total transportation cost, what should it do?
A. Transport all units from Warehouse A to Warehouse B
B. Transport all units from Warehouse B to Warehouse A
C. Transport 200 units from Warehouse A to Warehouse B and 300 units from Warehouse B to Warehouse A
D. Transport 300 units from Warehouse A to Warehouse B and 200 units from Warehouse B to Warehouse A
Question 10
The Federal Competition and Consumer Protection Commission (FCCPC) has the power to investigate and prosecute any person or company that engages in unfair business practices. Which of the following is a type of unfair business practice?
A. False advertising
B. Price-fixing
C. Predatory pricing
D. All of the above
Question 11
A consumer has purchased a product from a company, but the product has a defect. The consumer wants to return the product and get a refund. Which of the following is the consumer's right under the Consumer Protection Act?
A. The right to a full refund
B. The right to a partial refund
C. The right to a replacement product
D. The right to a repair of the product
Question 12
The _______________ is a type of business organization that is owned and controlled by two or more individuals.
A. Sole Trader
B. Partnership
C. Limited Liability Company
D. Cooperative Society
Question 13
A firm specializes in producing a single product, which is a type of commodity. The firm's production function is given by the equation ( Q = 2L^2 + 5K ), where Q is the quantity produced, L is the number of labor units, and K is the amount of capital invested. If the firm wants to produce 100 units of the commodity, how many labor units (L) and capital units (K) should it invest?
A. L = 5, K = 10
B. L = 10, K = 5
C. L = 5, K = 5
D. L = 10, K = 10
Question 14
A company uses a just-in-time inventory system to manage its stock levels. If the company receives a shipment of 5,000 units of a product and the current stock level is 3,000 units, what is the new stock level?
A. 6,000
B. 7,000
C. 8,000
D. 9,000
Question 15
Determine the type of business unit that would be most suitable for a small-scale entrepreneur who wants to start a retail business in a local market.
A. Sole Proprietorship
B. Partnership
C. Limited Liability Company
D. Cooperative Society

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