POST UTME AFE BABALOLA UNIVERSITY 2024 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A multinational corporation is considering entering the Nigerian market. Which of the following types of trade would be most suitable for this company?
Question 2
A consumer has a budget of ₦1000 and a preference for two goods, A and B. The prices of the goods are ₦200 and ₦300 respectively. The consumer's indifference curves are given by the equation U = 2x^0.5y^0.5, where U is utility, x is the quantity of good A and y is the quantity of good B. If the consumer is initially at point (2, 2), what is the new point on the indifference curve that the consumer will move to after a price increase of 20%?
Question 3
A company's risk management strategy involves diversification of its investments across various asset classes. If the company invests ₦1,000,000 in stocks, ₦500,000 in bonds, and ₦300,000 in real estate, what is the expected return on investment (ROI) if the annual returns on stocks, bonds, and real estate are 12%, 6%, and 8% respectively?
Question 4
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor and K is capital. If the firm wants to increase its output by 20% and labor increases by 10%, what is the percentage increase in capital required?
Question 5
In the context of international trade, what is the primary function of the World Trade Organization (WTO)?
Question 6
A _______ is a type of insurance that pays a lump sum benefit if the policyholder dies within a specified period.
Question 7
The _______ of a business refers to the process of creating and communicating value to customers.
Question 8
A consumer protection agency has received a complaint from a customer who claims that a company has sold a defective product. The agency has gathered evidence that the company has a history of selling defective products. What is the most likely legal remedy for the customer?
Question 9
A company is considering investing in a new project with a expected return of 12% and a standard deviation of 8%. What is the expected value of the project?
Question 10
In a sole trade business, what is the primary advantage of using a cash register system?
Question 11
A consumer has a budget of ₦1000 and a preference for two goods, A and B. The prices of the goods are ₦200 and ₦300 respectively. The consumer's indifference curves are given by the equation U = 2x^0.5y^0.5, where U is utility, x is the quantity of good A and y is the quantity of good B. If the consumer is initially at point (2, 2), what is the new point on the indifference curve that the consumer will move to after a price increase of 20%?
Question 12
A company has a production capacity of 10,000 units per month. If the demand for the product is 12,000 units per month, what is the level of production specialization?
Question 13
A company's marketing strategy involves creating a new product line. The company has a budget of ₦1,500,000 for the product launch. If the cost of production is ₦800,000, and the company wants to make a profit of 20%, how much should it spend on advertising?
Question 14
A consumer purchases a product with a warranty period of 2 years. If the consumer returns the product after 1 year and 6 months, is the consumer eligible for a replacement under the warranty?
Question 15
A consumer protection law that prohibits unfair or deceptive acts or practices in the marketplace is known as a _______ law.
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