POST UTME UNILAG 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer purchases a product from a retailer, but the product is defective. The consumer returns the product to the retailer, who refuses to accept it. What is the consumer's legal remedy?
A. The consumer can sue the retailer for breach of contract.
B. The consumer can return the product to the manufacturer.
C. The consumer can seek a refund from the retailer.
D. The consumer has no legal remedy.
Question 2
A bank's interest rate is given by r = 10 + 0.05t, where r is the interest rate and t is the time in years. If the bank wants to keep the interest rate below 15%, how many years will it take to reach this target?
A. 10 years
B. 20 years
C. 30 years
D. 40 years
Question 3
A consumer protection agency is responsible for enforcing laws that protect consumers from unfair business practices. Which of the following laws is most relevant to this agency's role?
A. Federal Trade Commission Act
B. Consumer Product Safety Act
C. Fair Credit Reporting Act
D. Truth in Lending Act
Question 4
A sole trader's business is affected by the following factors: market conditions, government policies, and consumer behavior. Which of the following is NOT a factor that affects a sole trader's business?
A. Market conditions
B. Government policies
C. Consumer behavior
D. Weather conditions
Question 5
A company's supply chain involves the transportation of goods from a manufacturing facility to a distribution center. Which of the following transportation modes is most suitable for this scenario?
A. Truck
B. Rail
C. Air
D. Sea
Question 6
A company's marketing strategy involves a combination of advertising and sales promotions. Which of the following is a characteristic of a sales promotion?
A. Discounts
B. Free samples
C. Loyalty programs
D. Product placement
Question 7
A marketing manager wants to increase sales by 20% within the next 6 months. If the current sales are ₦1,000,000 per month, what is the total sales target for the next 6 months?
A. ₦12,000,000
B. ₦10,000,000
C. ₦8,000,000
D. ₦6,000,000
Question 8
A firm's cost of capital is the minimum return required by investors for the risk they take in investing in the firm. Which of the following is NOT a component of a firm's cost of capital?
A. Debt
B. Equity
C. Preferred Stock
D. Operating Expenses
Question 9
A firm's marketing mix consists of four key elements: product, price, promotion, and place. What is the primary purpose of the 'place' element?
A. To create awareness about the product
B. To establish a relationship with the target audience
C. To facilitate the distribution of the product
D. To set a competitive price
Question 10
A company's marketing strategy involves a combination of advertising and sales promotions. Which of the following is NOT a characteristic of a sales promotion?
A. Discounts
B. Free samples
C. Loyalty programs
D. Product placement
Question 11
A warehouse has a capacity of 1000 units. The demand for the product is given by D = 200 + 5t, where D is the demand and t is the time in hours. If the warehouse is initially empty, how many hours will it take to fill the warehouse?
A. 10 hours
B. 20 hours
C. 30 hours
D. 40 hours
Question 12
A company has a policy of paying dividends twice a year. If the company declares a dividend of ₦0.50 per share and has 10,000 shares outstanding, what is the total dividend paid to shareholders?
A. ₦5,000
B. ₦10,000
C. ₦15,000
D. ₦20,000
Question 13
A company's production process involves the following steps: design, production, and distribution. Which of the following is NOT a step in the production process?
A. Design
B. Production
C. Distribution
D. Marketing
Question 14
A company's marketing strategy involves creating a new product that is similar to an existing product offered by a competitor. What is the legal effect of this strategy?
A. The company's new product is likely to be successful.
B. The company's new product is likely to infringe the competitor's patent.
C. The company's new product is likely to be considered a new and innovative product.
D. The company's new product is likely to be considered a copycat product.
Question 15
A firm's break-even point is the point at which its total revenue equals its total fixed costs. If a firm's total fixed costs amount to ₦50,000 and its selling price per unit is ₦100, how many units must it sell to break even?
A. 500 units
B. 750 units
C. 1,000 units
D. 1,500 units

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