POST UTME UNILAG 2025 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer protection agency has received a complaint from a customer who was sold a defective product. The product was sold for ₦20,000, and the customer is seeking a refund of ₦15,000. What is the amount the consumer protection agency should order the seller to pay?
A. ₦5,000
B. ₦10,000
C. ₦15,000
D. ₦20,000
Question 2
A company has a warehouse with a capacity of 1000 units. The company receives an order for 800 units. If the company uses a first-in-first-out (FIFO) inventory system, what is the total cost of the units in the warehouse?
A. ₦800
B. ₦900
C. ₦1000
D. ₦1200
Question 3
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's annual salary is ₦500,000, what is the total amount the employee will receive at the end of the year?
A. ₦550,000
B. ₦600,000
C. ₦650,000
D. ₦700,000
Question 4
A sole trader business is considering hiring an employee. What type of contract should the business use?
A. Service contract
B. Employment contract
C. Agency contract
D. Franchise contract
Question 5
A business owner purchases a policy that covers losses due to fire, theft, and liability. This is an example of which type of insurance?
A. Property Insurance
B. Liability Insurance
C. Casualty Insurance
D. All of the above
Question 6
The diagram below shows the demand and supply curves for a particular good. If the price of the good increases, what will happen to the equilibrium quantity?
A. Increase
B. Decrease
C. Remain the same
D. Move to the left
Question 7
A company is considering exporting its products to a foreign market. Which of the following is a key factor to consider in the decision-making process?
A. Political stability of the foreign market
B. Economic conditions of the foreign market
C. Cultural differences between the home and foreign markets
D. Environmental regulations of the foreign market
Question 8
A company is considering expanding its operations to a new market. What type of risk is the company facing?
A. Market risk
B. Credit risk
C. Liquidity risk
D. Operational risk
Question 9
In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing
A. diminishing returns
B. increasing costs
C. decreasing marginal revenue
D. constant returns to scale
Question 10
A company has a production function Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If labor increases by 15% and capital increases by 10%, what is the percentage change in output?
A. 5%
B. 10%
C. 15%
D. 20%
Question 11
In a market with perfect competition, the demand curve for a firm's product is downward sloping. What is the implication of this for the firm's marginal revenue (MR) curve?
A. The MR curve is upward sloping.
B. The MR curve is downward sloping.
C. The MR curve is horizontal.
D. The MR curve is vertical.
Question 12
A bank is considering lending money to a customer. Which of the following is a key factor to consider in the lending decision?
A. Creditworthiness of the customer
B. Collateral offered by the customer
C. Interest rate offered by the bank
D. Loan term and repayment schedule
Question 13
A consumer protection agency receives a complaint from a customer who purchased a product online. The customer claims that the product was not as described. Which of the following is a correct step that the agency should take?
A. The agency should investigate the complaint and provide a refund to the customer.
B. The agency should contact the seller and request that they provide a refund to the customer.
C. The agency should dismiss the complaint and inform the customer that they are not responsible.
D. The agency should refer the complaint to a higher authority for further action.
Question 14
A company is considering entering into a joint venture with another company. Which of the following is a key advantage of entering into a joint venture?
A. Increased competition in the market
B. Improved access to new customers and suppliers
C. Reduced costs due to economies of scale
D. Increased risk of business failure
Question 15
A company is considering two different marketing strategies for its new product. Strategy A involves a high initial investment but low ongoing costs, while Strategy B involves low initial investment but high ongoing costs. Which strategy is more likely to result in a higher return on investment (ROI) in the long run?
A. Strategy A
B. Strategy B
C. Both strategies are equally likely to result in a higher ROI.
D. It is impossible to determine which strategy will result in a higher ROI.

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