POST UTME UNIBEN 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering two different marketing strategies: a push strategy and a pull strategy. Explain the key differences between these two strategies.
A. A push strategy involves promoting a product to intermediaries, while a pull strategy involves promoting a product to consumers.
B. A push strategy involves promoting a product to consumers, while a pull strategy involves promoting a product to intermediaries.
C. A push strategy involves using advertising to promote a product, while a pull strategy involves using sales promotions to promote a product.
D. A push strategy involves using sales promotions to promote a product, while a pull strategy involves using advertising to promote a product.
Question 2
In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is
A. inelastic
B. elastic
C. unit elastic
D. perfectly inelastic
Question 3
A firm's supply function is given by S(x) = 2x^2 + 5x + 3. The supply function is
A. S(x) = 2x + 5
B. S(x) = 2x - 5
C. S(x) = x + 5
D. S(x) = x - 5
Question 4
A firm's break-even point is the point at which its total revenue equals its
A. total fixed costs
B. total variable costs
C. total costs
D. net income
Question 5
A firm's demand function is given by Q = 100 - 2P. Find the inverse demand function.
A. ( P = 50 - rac{1}{2}Q )
B. ( P = 100 - Q )
C. ( P = 50 + Q )
D. ( P = 100 + 2Q )
Question 6
A company has the following revenue function: R = 100Q - 2Q^2. If the company produces 5 units of output, what is the marginal revenue?
A. 80
B. 90
C. 100
D. 110
Question 7
A sole trader's business is registered under the _______ Act.
A. Companies and Allied Matters Act
B. Business Registration Act
C. Trade Marks Act
D. Patents and Designs Act
Question 8
A company's cost function is given by C(x) = 3x^2 + 20x. Find the marginal cost function.
A. ( C'(x) = 6x + 20 )
B. ( C'(x) = 3x + 10 )
C. ( C'(x) = x^2 + 10x )
D. ( C'(x) = 3x^2 + 10x )
Question 9
A company's insurance policy has a deductible of ₦10,000 and a premium of ₦50,000 per year. If the company incurs a loss of ₦150,000, what is the company's net insurance cost?
A. ₦30,000
B. ₦40,000
C. ₦50,000
D. ₦60,000
Question 10
A firm has the following cost function: TC = 100 + 2Q + 0.5Q^2. If the firm produces 10 units of output, what is the total cost?
A. 150
B. 200
C. 250
D. 300
Question 11
A firm's production process involves the following steps: raw materials → processing → packaging → shipping. If the firm wants to reduce the time taken for each step by 20%, what is the total time saved?
A. 20%
B. 30%
C. 40%
D. 50%
Question 12
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to increase its revenue by 20%, what percentage increase in price is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 13
A consumer protection law requires businesses to _______ their customers about product defects.
A. inform and compensate
B. notify and warn
C. disclose and compensate
D. notify and inform
Question 14
In a perfectly competitive market, the demand curve for a firm's product is its
A. marginal cost curve
B. marginal revenue curve
C. average revenue curve
D. average cost curve
Question 15
A bank's capital adequacy ratio is 12% and its risk-weighted assets are ₦10 billion. If the bank's total equity is ₦1.2 billion, what is the minimum amount of additional capital the bank must raise to meet the central bank's requirements?
A. ₦0
B. ₦0.8 billion
C. ₦1.2 billion
D. ₦2 billion

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