POST UTME UNIPORT 2020 Commerce | Objective

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Question 1
A company is considering two different pricing strategies for its product. Strategy A involves pricing the product at ₦100 per unit, while Strategy B involves pricing the product at ₦120 per unit. Which strategy should the company choose if it wants to maximize its revenue?
A. Strategy A
B. Strategy B
C. Both strategies are equally profitable
D. Neither strategy is profitable
Question 2
A bank's interest rate is 12% per annum, compounded annually. If a principal amount of ₦10,000 is invested for 2 years, what is the future value?
A. ₦12,736
B. ₦13,232
C. ₦13,728
D. ₦14,224
Question 3
A consumer protection agency has received a complaint from a customer who was sold a defective product. The agency has the power to investigate the complaint and take action against the seller if necessary. Which of the following is a correct example of the agency's power?
A. To investigate the complaint and take action against the seller
B. To ignore the complaint and do nothing
C. To fine the seller and order them to replace the product
D. To close down the seller's business
Question 4
A company's marketing strategy involves creating a product that is perceived as having a unique value proposition. This approach is an example of which of the following marketing strategies?
A. Product Differentiation
B. Market Segmentation
C. Target Marketing
D. Positioning
Question 5
A consumer protection agency receives a complaint from a customer who claims that a product is defective. The agency's primary responsibility is to investigate the complaint and take appropriate action. Which of the following actions would be most appropriate?
A. Return the product to the manufacturer
B. Provide a refund to the customer
C. Replace the product with a new one
D. Take no action
Question 6
A person has a life insurance policy with a premium of ₦10,000 per year. If the person dies, the insurance company will pay ₦500,000 to the beneficiary. What is the person's expected loss if they die?
A. ₦490,000
B. ₦490,000
C. ₦490,000
D. ₦490,000
Question 7
A sole trader has a business that generates an annual revenue of ₦500,000 and an annual expense of ₦200,000. What is the sole trader's net profit?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Question 8
A company has a policy of paying its employees a fixed salary of ₦50,000 per month, plus a 10% bonus on their sales. If an employee sells ₦100,000 worth of goods in a month, how much will they earn in total?
A. ₦60,000
B. ₦65,000
C. ₦70,000
D. ₦75,000
Question 9
A firm's insurance policy covers losses arising from fire, theft, and natural disasters. This type of insurance policy is an example of which of the following?
A. All-Risk Insurance
B. Fire Insurance
C. Theft Insurance
D. Liability Insurance
Question 10
The concept of 'Just-in-Time' inventory system is most closely related to which of the following marketing strategies?
A. Mass Customization
B. Product Differentiation
C. Market Segmentation
D. Target Marketing
Question 11
In a perfectly competitive market, the law of supply states that as the price of a good increases, the quantity supplied will
A. increase
B. decrease
C. remain constant
D. shift to the left
Question 12
A firm's ability to adapt to changing market conditions is best described by which of the following concepts?
A. Market Structure
B. Market Conduct
C. Market Performance
D. Market Adaptability
Question 13
A company has a warehouse that stores 500 units of a product. The company wants to ensure that it has at least 20% of the product in reserve. How many units of the product should the company keep in reserve?
A. 100 units
B. 200 units
C. 300 units
D. 400 units
Question 14
A company's stock is valued at ₦100 per share. If the company issues 10,000 shares, what is the total value of the stock?
A. ₦1 million
B. ₦1.5 million
C. ₦2 million
D. ₦2.5 million
Question 15
A consumer purchases a product with a price of ₦5,000 and a 10% discount. What is the amount of the discount?
A. ₦500
B. ₦1,000
C. ₦1,500
D. ₦2,000

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