POST UTME UNILAG 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a warehouse with a capacity to store 10,000 units of goods. The warehouse is currently 70% full. If the company receives an order for 5,000 units, what is the maximum number of units that can be stored in the warehouse after fulfilling the order?
A. 5000
B. 7000
C. 8000
D. 9000
Question 2
A company's revenue function is given by R(x) = 100x - 2x^2. If the company's current price and quantity sold are 10 and 5, respectively, what is the company's current revenue?
A. 140
B. 180
C. 220
D. 260
Question 3
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current labor and capital inputs are L = 16 and K = 9, respectively, what is the firm's current output?
A. 24
B. 36
C. 48
D. 64
Question 4
A company's marketing strategy involves a 20% discount on all products. If the original price of a product is ₦1000, what is the new price after the discount?
A. ₦800
B. ₦900
C. ₦1000
D. ₦1200
Question 5
A company is sued for violating the Consumer Protection Act. The company's defense is that the consumer did not read the fine print on the contract. Which of the following is the most likely outcome?
A. The court will rule in favor of the company.
B. The court will rule in favor of the consumer.
C. The case will be dismissed due to lack of evidence.
D. The company will be ordered to pay damages to the consumer.
Question 6
A company's insurance policy has a deductible of ₦5000. If the company incurs a loss of ₦15000, what is the amount paid by the insurance company?
A. ₦10000
B. ₦5000
C. ₦10000
D. ₦15000
Question 7
A firm's revenue function is given by R = 2Q^2. If the firm's current output is Q = 3, what is the marginal revenue?
A. 6
B. 8
C. 10
D. 12
Question 8
A company's insurance policy covers losses due to fire, theft, and natural disasters. What type of insurance policy is this?
A. Fire insurance
B. Theft insurance
C. All-risk insurance
D. Comprehensive insurance
Question 9
A company's profit function is given by P(x) = R(x) - C(x). If the company's current revenue and cost functions are R(x) = 100x - 2x^2 and C(x) = 2x + 3x^2, respectively, what is the company's current profit?
A. 20
B. 40
C. 60
D. 80
Question 10
In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is
A. a vertical line
B. a horizontal line
C. a downward-sloping curve
D. an upward-sloping curve
Question 11
A bank is considering lending money to a customer who has a poor credit history. Which of the following is the most appropriate decision for the bank?
A. The bank should lend the customer the money.
B. The bank should not lend the customer the money.
C. The bank should charge the customer a higher interest rate.
D. The bank should require the customer to provide collateral.
Question 12
A sole trader's business is considered a separate legal entity from its owner. Discuss.
A. True
B. False
C. Depends on the jurisdiction
D. Not applicable
Question 13
A firm is considering two different investment projects, A and B. Project A has a higher initial cost but a higher expected return, while project B has a lower initial cost but a lower expected return. What is the main advantage of project A?
A. It has a higher expected return.
B. It has a lower initial cost.
C. It has a higher risk.
D. It has a lower risk.
Question 14
A company has a policy of paying its employees a bonus of 10% of their salary after 5 years of service. If an employee is currently earning ₦100,000 per month, what is the total bonus the employee will receive after 5 years?
A. ₦600,000
B. ₦700,000
C. ₦800,000
D. ₦900,000
Question 15
A company is considering importing goods from a foreign country. The company has estimated the cost of importing the goods to be 10,000. If the exchange rate is 1 USD = ₦400, what is the total cost of importing the goods in Nigerian Naira?
A. ₦4,000,000
B. ₦4,500,000
C. ₦5,000,000
D. ₦5,500,000

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