Practice Post UTME UNN commerce 2019 Past Questions

Question 1

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

Correct 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

Correct Answer: B

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Question 2

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

Correct 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

Correct Answer: B

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Question 3

A company is considering the introduction of a new production process that involves the use of a new machine. The machine is expected to increase productivity by 20%, but it will also require a significant investment in training and maintenance. Which of the following is the most appropriate way for the company to evaluate the potential benefits and costs of the new machine?

Correct A. Conduct a cost-benefit analysis to determine the net present value of the investment

B. Use the payback period method to determine the time required to recover the investment

C. Conduct a sensitivity analysis to determine the potential impact of changes in productivity and costs

D. Negotiate with suppliers to reduce the cost of the machine

Correct Answer: A

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Question 4

A firm is considering the introduction of a new product line that will be sold through a variety of distribution channels. Which of the following is the most appropriate way for the firm to determine the optimal distribution strategy?

Correct A. Use the channel selection method to determine the most effective distribution channel

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

Correct Answer: A

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Question 5

A company is considering the introduction of a new marketing strategy that involves the use of social media advertising. Which of the following is the most appropriate way for the company to evaluate the potential effectiveness of the new strategy?

Correct A. Conduct a cost-benefit analysis to determine the net present value of the investment

B. Use the payback period method to determine the time required to recover the investment

C. Conduct a sensitivity analysis to determine the potential impact of changes in productivity and costs

D. Negotiate with suppliers to reduce the cost of the advertising

Correct Answer: A

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Question 6

A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a primary goal of advertising in this context?

A. To increase brand awareness

B. To persuade customers to buy the product

Correct C. To provide customer service

D. To generate leads

Correct Answer: C

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Question 7

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

Correct B. Reduced cash handling costs

C. Increased cash availability

D. Improved customer service

Correct Answer: B

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Question 8

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

Correct D. Reduced consumer trust

Correct Answer: D

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Question 9

A company's transport management system involves the use of a fleet management software to track and manage vehicles. Which of the following is a benefit of this system?

Correct A. Improved vehicle tracking

B. Reduced fuel consumption

C. Increased vehicle availability

D. Improved driver safety

Correct Answer: A

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Question 10

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?

Correct A. Improved financial forecasting

B. Reduced financial risk

C. Increased financial availability

D. Improved financial reporting

Correct Answer: A

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Question 11

The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation:

Correct 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

Correct Answer: A

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Question 12

The following is a characteristic of a warehouse:

Correct A. It is a place where goods are stored temporarily before being sold

B. It is a place where goods are manufactured

C. It is a place where goods are transported

D. It is a place where goods are sold

Correct Answer: A

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Question 13

The following is a type of insurance policy:

A. Life Insurance

B. Health Insurance

C. Property Insurance

Correct D. Liability Insurance

Correct Answer: D

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Question 14

The following is a characteristic of a consumer:

Correct A. He is a person who buys goods and services for personal use

B. He is a person who sells goods and services

C. He is a person who produces goods and services

D. He is a person who transports goods and services

Correct Answer: A

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Question 15

The following is a type of business law:

Correct A. Contract Law

B. Tort Law

C. Property Law

D. Employment Law

Correct Answer: A

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Question 16

A firm specializes in producing only one product. This specialization is an example of what type of production?

A. Mass production

B. Batch production

Correct C. Job production

D. Continuous production

Correct Answer: C

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Question 17

The concept of comparative advantage is based on the idea that countries should specialize in producing goods for which they have a?

A. Absolute advantage

B. Opportunity cost

Correct C. Comparative advantage

D. Absolute disadvantage

Correct Answer: C

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Question 18

A sole trader is a type of business that is owned and managed by one person. What is the main advantage of a sole trader?

A. Limited liability

B. Unlimited liability

Correct C. Flexibility

D. Accountability

Correct Answer: C

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Question 19

The concept of opportunity cost is based on the idea that the cost of producing one good is the?

Correct A. Opportunity cost

B. Marginal cost

C. Average cost

D. Sunk cost

Correct Answer: A

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Question 20

A company is a type of business that is owned and managed by a group of people. What is the main advantage of a company?

Correct A. Limited liability

B. Unlimited liability

C. Flexibility

D. Accountability

Correct Answer: A

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Question 21

A company's marketing strategy involves a mix of advertising and sales promotions. Which of the following best describes the primary goal of this strategy?

A. To increase brand awareness

Correct B. To boost sales revenue

C. To enhance customer loyalty

D. To reduce production costs

Correct Answer: B

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Question 22

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%

Correct C. 30%

D. 40%

Correct Answer: C

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Question 23

A consumer protection agency has received complaints about a company's deceptive advertising practices. Which of the following is the most appropriate action for the agency to take?

A. Issue a warning to the company

Correct B. Impose a fine on the company

C. Order the company to cease operations

D. Refer the matter to the police

Correct Answer: B

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Question 24

A firm's marketing mix involves a product with a high level of quality, a price that is slightly above average, and a distribution channel that is limited to a few select retailers. Which of the following best describes the target market for this product?

Correct A. High-end consumers

B. Middle-class consumers

C. Budget-conscious consumers

D. Young adults

Correct Answer: A

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Question 25

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)

Correct D. Overall Equipment Effectiveness (OEE)

Correct Answer: D

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POST UTME UNN 2019 Commerce | Objective

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