POST UTME UNN 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's production function is given by the equation Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm increases labor from 16 to 25, and capital from 9 to 16, what is the percentage change in output?
A. 10%
B. 20%
C. 30%
D. 40%
Question 2
A company's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following best describes the primary goal of this strategy?
A. To increase brand awareness
B. To generate leads
C. To drive sales
D. To build customer loyalty
Question 3
A firm's cost of capital is the minimum return required by investors to invest in the firm. What is the primary factor that affects a firm's cost of capital?
A. Risk-free rate
B. Market risk premium
C. Debt-to-equity ratio
D. Asset beta
Question 4
A company's marketing strategy involves creating a sense of urgency among customers to purchase a product. This is an example of which of the following psychological marketing techniques?
A. Scarcity
B. Social proof
C. Authority
D. Liking
Question 5
A company's production process involves a series of steps, including raw material procurement, manufacturing, and packaging. Which of the following is the most appropriate way to measure the efficiency of this process?
A. Total Productivity Ratio (TPR)
B. Labor Productivity Ratio (LPR)
C. Capital Productivity Ratio (CPR)
D. Overall Equipment Effectiveness (OEE)
Question 6
A consumer protection agency has received complaints about a company's unfair business practices. Which of the following is a potential remedy that the agency could impose?
A. Monetary fine
B. Order to cease and desist
C. Compensatory damages
D. Restitution
Question 7
A bank's financial management system involves the use of a financial planning software to track and manage financial resources. Which of the following is a benefit of this system?
A. Improved financial forecasting
B. Reduced financial risk
C. Increased financial availability
D. Improved financial reporting
Question 8
A firm specializes in producing only one product. This specialization is an example of what type of production?
A. Mass production
B. Batch production
C. Job production
D. Continuous production
Question 9
A firm's production function is given by the equation Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm wants to increase output by 20%, what is the required percentage increase in labor?
A. 10%
B. 15%
C. 20%
D. 25%
Question 10
A bank's cash management system involves the use of a cash management software to track and manage cash flows. Which of the following is a benefit of this system?
A. Improved cash forecasting
B. Reduced cash handling costs
C. Increased cash availability
D. Improved customer service
Question 11
A consumer protection law requires businesses to provide clear and accurate information about their products. Which of the following is a consequence of non-compliance with this law?
A. Financial penalties
B. Loss of business reputation
C. Increased competition
D. Reduced consumer trust
Question 12
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation:
A. Open Market Operations (OMO), Reserve Requirements, and Moral Suasion
B. Open Market Operations (OMO), Reserve Requirements, and Quantitative Easing
C. Reserve Requirements, Moral Suasion, and Quantitative Easing
D. Open Market Operations (OMO), Moral Suasion, and Fiscal Policy
Question 13
A company is considering a new marketing strategy that involves partnering with a popular social media influencer. The influencer has a large following and is known for promoting products that align with the company's brand values. However, the company is concerned about the potential risks associated with partnering with an influencer, including the risk of negative publicity and the potential for the influencer to promote competing products. Which of the following is the most appropriate way for the company to mitigate these risks?
A. Negotiate a contract that includes a non-compete clause
B. Conduct thorough research on the influencer's past promotions and reputation
C. Require the influencer to disclose any potential conflicts of interest
D. Limit the scope of the partnership to a specific product or service
Question 14
A company is considering two different distribution channels for its product. Channel A involves a direct sales force, while Channel B involves a network of independent distributors. If the company's objective is to minimize its distribution costs, which channel should it use?
A. Channel A
B. Channel B
C. Both channels are equally cost-effective
D. Neither channel is cost-effective
Question 15
A firm is considering the introduction of a new product line. The product line is expected to have a high fixed cost, but a low variable cost. Which of the following is the most appropriate way for the firm to determine the optimal price for the new product?
A. Use the break-even analysis to determine the minimum price required to cover fixed costs
B. Conduct market research to determine the price elasticity of demand for the product
C. Use the marginal cost pricing rule to determine the optimal price
D. Negotiate with suppliers to reduce the variable cost of production

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