POST UTME UNIOSUN 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's marketing strategy involves a mix of advertising, personal selling, and sales promotion. Which of the following is a characteristic of advertising?
A. It is a one-to-one communication process
B. It involves a high degree of personal interaction
C. It is a low-cost method of promotion
D. It is a mass communication process
Question 2
A business owner has a warehouse with a capacity to store 5000 units of a product. If the business owner wants to store 2000 units of the product, what is the percentage of the warehouse capacity used?
A. 20%
B. 30%
C. 40%
D. 50%
Question 3
A company's insurance policy covers against loss of goods in transit. Which of the following is a type of insurance policy?
A. Fire insurance
B. Marine insurance
C. Liability insurance
D. Life insurance
Question 4
A warehouse has a storage capacity of 10,000 units. If it receives a shipment of 5,000 units, what percentage of its capacity is occupied?
A. 25%
B. 30%
C. 40%
D. 50%
Question 5
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers from unfair trade practices. Which of the following is a key provision of the Act?
A. The Act provides for the establishment of a Consumer Protection Council
B. The Act provides for the protection of consumers from unfair trade practices
C. The Act provides for the establishment of a Consumer Protection Agency
D. The Act provides for the protection of consumers from environmental hazards
Question 6
A company's production function is given by Q = 2L^2 + 5L + 3, where Q is the quantity produced and L is the labor input. If the company wants to produce 21 units of output, how many units of labor should it hire?
A. 4
B. 5
C. 6
D. 7
Question 7
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 5,000 units, but the warehouse is already 70% full. What is the maximum number of units that the company can accept without exceeding the warehouse's capacity?
A. ( 10000 - (0.7)(10000) )
B. ( 10000 - (0.3)(10000) )
C. ( 10000 - (0.5)(10000) )
D. ( 10000 - (0.9)(10000) )
Question 8
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?
A. ₦200,000
B. ₦250,000
C. ₦300,000
D. ₦400,000
Question 9
A consumer protection agency has received complaints about a company's unfair business practices. The agency has collected evidence of the company's actions, including a video recording of a sales representative making false claims about a product. Which of the following is the most appropriate action for the agency to take?
A. Issue a warning to the company and require them to cease the unfair practice
B. File a lawsuit against the company for damages
C. Refer the matter to the relevant regulatory authority
D. Dismiss the complaint as unfounded
Question 10
A company's insurance policy covers against loss of goods in transit. Which of the following is a type of insurance policy?
A. Fire insurance
B. Marine insurance
C. Liability insurance
D. Life insurance
Question 11
A consumer purchases a product on credit from a store. The store charges a 10% interest rate on the purchase price. If the purchase price is ₦10,000, how much will the consumer pay at the end of the credit period?
A. ₦11,000
B. ₦11,100
C. ₦11,200
D. ₦11,300
Question 12
A company produces 100 units of a product per day. If the company operates 7 days a week, what is the total number of units produced in a week?
A. 700
B. 1000
C. 1400
D. 2100
Question 13
A consumer has a budget constraint of 100 units of currency and faces a price of 5 units of currency per unit of good X. If the consumer's indifference curve is given by U = 2X^0.5, what is the consumer's optimal quantity of good X?
A. 4 units
B. 6 units
C. 8 units
D. 10 units
Question 14
A firm's warehouse is designed to store a large quantity of goods. Which of the following is a characteristic of a warehouse?
A. It is a place where goods are sold
B. It is a place where goods are manufactured
C. It is a place where goods are stored
D. It is a place where goods are transported
Question 15
A company uses a production process that involves several stages, including design, prototyping, and assembly. The company uses a just-in-time (JIT) inventory system to manage its inventory levels. What is the primary benefit of using a JIT inventory system in this context?
A. Reduced inventory costs
B. Improved product quality
C. Increased production efficiency
D. Enhanced customer satisfaction

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