POST UTME AFE BABALOLA UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company is considering the introduction of a new marketing strategy. The strategy involves the use of social media to reach a wider audience. What type of marketing strategy is this?
Question 2
A firm's cost function is given by C = 2L + 3K, where L is the number of units of labor and K is the number of units of capital. If the firm hires 5 units of labor and 10 units of capital, what is the total cost of production?
Question 3
A marketing firm is considering two advertising strategies: Strategy A, which costs ₦1.2 million and is expected to generate ₦4.8 million in revenue, and Strategy B, which costs ₦1.5 million and is expected to generate ₦6 million in revenue. What is the net present value (NPV) of Strategy A, assuming a discount rate of 10%?
Question 4
A company is considering two different marketing strategies for its new product. Strategy A involves a high initial investment in advertising, but the product is expected to have a long shelf life and high demand. Strategy B involves a lower initial investment in advertising, but the product is expected to have a shorter shelf life and lower demand. Which strategy is more likely to result in higher profits?
Question 5
A firm is considering investing in a new project. The project has a required rate of return of 10% and an expected return of 12%. What is the company's expected return in excess of the required rate of return?
Question 6
A company is considering the purchase of a new communication system. The system involves the use of satellite technology to improve connectivity. What type of communication system is this?
Question 7
A company is considering the purchase of a new insurance policy. The policy covers the company against a range of risks, including liability and property damage. What type of insurance policy is this?
Question 8
A country's trade balance is given by the equation TB = X - M, where X is the value of exports and M is the value of imports. If the value of exports is ₦100 billion and the value of imports is ₦120 billion, what is the trade balance?
Question 9
A bank offers a 5-year fixed deposit account with an interest rate of 12% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, what is the future value of the investment at the end of the fifth year?
Question 10
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity of the product?
Question 11
A company is considering the introduction of a new transportation system. The system involves the use of autonomous vehicles to improve safety. What type of transportation system is this?
Question 12
A firm has two types of insurance policies: type A and type B. Type A policy covers losses up to ₦1 million, while type B policy covers losses up to ₦500,000. If the firm has a total of ₦2.5 million in losses, how much should it pay for each policy?
Question 13
A company's production function is given by Q = 2L^0.5K^0.5. If the company wants to produce 400 units of output, and the wage rate is ₦10 per hour, and the rental rate is ₦5 per unit of capital, what is the minimum cost of production?
Question 14
The Consumer Protection Act of 1999 provides for the establishment of a Consumer Protection Council. What is the primary function of this council?
Question 15
A firm is considering two different production technologies: one that requires 10 units of labor and 5 units of capital to produce 100 units of output, and another that requires 5 units of labor and 10 units of capital to produce 100 units of output. Which technology is more efficient?
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