POST UTME UNILAG 2024 Commerce | Objective

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Question 1 View Details
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a key benefit of using public relations in a marketing strategy?
A. Increased brand awareness
B. Improved customer loyalty
Correct C. Enhanced reputation
D. Increased sales revenue

Correct Answer: C

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Question 2 View Details
A sole trader's business is exposed to various risks, including market risk, credit risk, and operational risk. Which of the following is a way to manage operational risk?
A. Diversification
B. Hedging
C. Risk transfer
Correct D. Contingency planning

Correct Answer: D

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Question 3 View Details
A company's financial statements include a balance sheet, income statement, and cash flow statement. Which of the following is a key component of the balance sheet?
Correct A. Assets
B. Liabilities
C. Equity
D. Revenue

Correct Answer: A

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Question 4 View Details
A company uses a just-in-time (JIT) inventory system to manage its inventory levels. Which of the following is a key benefit of JIT?
Correct A. Reduced inventory costs
B. Improved quality control
C. Increased flexibility
D. Enhanced customer service

Correct Answer: A

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Question 5 View Details
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a key tool used in public relations?
Correct A. Press release
B. Media kit
C. Speech
D. Brochure

Correct Answer: A

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Question 6 View Details
A firm specializes in producing a single product, which is a combination of two inputs, labor and capital. If the production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital, and the prices of labor and capital are 10 and 20 respectively, what is the total cost of producing 4 units of the product?
A. ₦400
Correct B. ₦800
C. ₦1200
D. ₦1600

Correct Answer: B

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Question 7 View Details
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of the product is ₦500, what is the total revenue generated from the first 100 customers?
A. ₦40,000
B. ₦45,000
Correct C. ₦50,000
D. ₦55,000

Correct Answer: C

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Question 8 View Details
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the quantity produced, L is labor, and K is capital. If the prices of labor and capital are 15 and 30 respectively, and the firm produces 9 units of the product, what is the total cost of production?
A. ₦675
B. ₦900
C. ₦1125
Correct D. ₦1350

Correct Answer: D

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Question 9 View Details
A company's marketing strategy involves a 15% discount on all products for the first 50 customers. If the original price of the product is ₦600, what is the total revenue generated from the first 50 customers?
A. ₦27,000
B. ₦30,000
Correct C. ₦33,000
D. ₦36,000

Correct Answer: C

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Question 10 View Details
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the prices of labor and capital are 12 and 24 respectively, and the firm produces 8 units of the product, what is the total cost of production?
A. ₦384
B. ₦576
C. ₦768
Correct D. ₦960

Correct Answer: D

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Question 11 View Details
A bank's liquidity ratio is calculated as the ratio of its liquid assets to its total deposits. If a bank has ₦150,000 in liquid assets and ₦200,000 in total deposits, what is its liquidity ratio?
Correct A. 0.75
B. 0.60
C. 0.80
D. 0.90

Correct Answer: A

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Question 12 View Details
A company's marketing strategy involves a 30% discount on all products for the first week of a new product launch. If the original price of the product is ₦10,000, what is the discounted price?
Correct A. ₦7,000
B. ₦8,000
C. ₦9,000
D. ₦10,500

Correct Answer: A

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Question 13 View Details
A warehouse has a storage capacity of 10,000 units. If 8,000 units are already stored, what is the remaining storage capacity?
Correct A. 2,000
B. 5,000
C. 8,000
D. 10,000

Correct Answer: A

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Question 14 View Details
A company's insurance policy has a deductible of ₦5,000. If the company incurs a loss of ₦20,000, how much will it pay in premiums?
Correct A. ₦15,000
B. ₦20,000
C. ₦25,000
D. ₦30,000

Correct Answer: A

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Question 15 View Details
A bank's return on equity (ROE) is calculated as net income divided by total equity. If a bank has a net income of ₦100,000 and total equity of ₦500,000, what is its ROE?
Correct A. 0.20
B. 0.30
C. 0.40
D. 0.50

Correct Answer: A

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Question 16 View Details
A company's sole trader has a warehouse with a capacity of 1000 units. The company's inventory management system uses a first-in-first-out (FIFO) method. If the company receives a new shipment of 500 units, what is the probability that the oldest unit in the warehouse will be sold before the new shipment is sold?
Correct A. 0.5
B. 0.25
C. 0.75
D. 0.33

Correct Answer: A

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Question 17 View Details
A consumer protection agency is investigating a complaint about a company's unfair business practices. The company's business model involves selling products through a network of independent distributors. If the company is found to be engaging in unfair business practices, what is the likely outcome?
A. The company will be fined ₦100,000
B. The company will be required to change its business model
C. The company will be banned from operating in the country
Correct D. The company will be required to pay compensation to affected consumers

Correct Answer: D

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Question 18 View Details
A company's insurance policy covers losses due to natural disasters. The policy has a deductible of ₦500,000 and a maximum payout of ₦5,000,000. If the company suffers a loss of ₦2,000,000 due to a natural disaster, what is the amount that the insurance company will pay?
Correct A. ₦1,500,000
B. ₦2,000,000
C. ₦3,500,000
D. ₦4,500,000

Correct Answer: A

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Question 19 View Details
A company's sole trader has a warehouse with a capacity of 1000 units. The company's inventory management system uses a last-in-first-out (LIFO) method. If the company receives a new shipment of 500 units, what is the probability that the oldest unit in the warehouse will be sold before the new shipment is sold?
A. 0.25
Correct B. 0.5
C. 0.75
D. 0.33

Correct Answer: B

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Question 20 View Details
A company's business model involves selling products through a network of independent distributors. If the company is found to be engaging in unfair business practices, what is the likely outcome?
A. The company will be fined ₦100,000
B. The company will be required to change its business model
C. The company will be banned from operating in the country
Correct D. The company will be required to pay compensation to affected consumers

Correct Answer: D

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Question 21 View Details
In a competitive market, a firm's demand curve is downward sloping. What is the likely effect of an increase in the firm's price on its revenue?
A. Increase in revenue
Correct B. Decrease in revenue
C. No change in revenue
D. Uncertain effect on revenue

Correct Answer: B

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Question 22 View Details
A company is considering two different marketing strategies: a low-cost strategy and a high-cost strategy. Which strategy is more likely to result in a higher market share?
Correct A. Low-cost strategy
B. High-cost strategy
C. Both strategies are equally effective
D. It depends on the market conditions

Correct Answer: A

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Question 23 View Details
A firm is considering investing in a new project. The project has a high expected return, but it also has a high level of risk. What is the likely effect of the firm's risk aversion on its decision to invest in the project?
A. The firm is more likely to invest in the project
Correct B. The firm is less likely to invest in the project
C. The firm's risk aversion has no effect on its decision
D. The firm's risk aversion increases the expected return of the project

Correct Answer: B

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Question 24 View Details
A company is considering two different production processes: a traditional process and a modern process. The traditional process is less expensive, but it also has a higher level of waste. Which process is more likely to result in a higher profit margin?
A. Traditional process
Correct B. Modern process
C. Both processes are equally profitable
D. It depends on the market conditions

Correct Answer: B

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Question 25 View Details
A firm is considering a new product launch. The product has a high level of demand, but it also has a high level of competition. What is the likely effect of the firm's marketing strategy on the product's success?
Correct A. The marketing strategy will increase the product's success
B. The marketing strategy will decrease the product's success
C. The marketing strategy will have no effect on the product's success
D. It depends on the market conditions

Correct Answer: A

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