POST UTME COAL CITY UNIVERSITY 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering two different marketing strategies to promote its new product. Strategy A involves a high level of advertising and promotion, while Strategy B involves a low level of advertising and promotion. Which of the following is a potential advantage of Strategy A?
A. Increased brand awareness
B. Increased sales
C. Decreased production costs
D. Improved customer satisfaction
Question 2
A company uses a supply chain management system to manage its inventory. What is the primary benefit of this system?
A. Improved inventory management
B. Reduced transportation costs
C. Enhanced customer satisfaction
D. Increased production efficiency
Question 3
A company's production function is given by Q = 2L^0.5 * K^0.5, where Q is the output, L is the labor, and K is the capital. If the company wants to increase its output by 20% while keeping the labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 4
A company has a sole trader business structure. If the company's profit is ₦500,000, and the owner's capital is ₦200,000, what is the return on investment (ROI)?
A. 150%
B. 200%
C. 250%
D. 300%
Question 5
The concept of 'Gross Domestic Product' (GDP) is used to measure the total value of all final goods and services produced within a country's borders. However, GDP has its limitations. Which of the following is NOT a limitation of GDP?
A. GDP does not account for income inequality
B. GDP does not account for the value of unpaid household work
C. GDP does not account for the value of environmental degradation
D. GDP does not account for the value of national defense
Question 6
A firm is considering exporting its products to a foreign market. Which of the following is a potential advantage of exporting?
A. Increased market share
B. Increased revenue
C. Reduced competition
D. Improved brand reputation
Question 7
A firm specializes in producing two goods, X and Y. The production function for good X is given by ( Q_X = 2L^2 + 3K ), where L is labor and K is capital. The production function for good Y is given by ( Q_Y = 4L^2 - 2K ). If the firm has 100 units of labor and 50 units of capital, and it wants to maximize its total output, what is the optimal level of labor to use?
A. 50
B. 75
C. 100
D. 125
Question 8
A firm is considering two types of warehouses: a public warehouse and a private warehouse. If the firm chooses a public warehouse, what is the expected outcome?
A. Increased security
B. Decreased security
C. No change in security
D. Increased costs
Question 9
A firm is considering two marketing strategies: product differentiation and market segmentation. If the firm chooses product differentiation, what is the expected outcome?
A. Increased market share
B. Decreased market share
C. No change in market share
D. Increased competition
Question 10
A bank offers a 5% interest rate on deposits. If a customer deposits ₦10,000, how much interest will the customer earn in one year?
A. ₦500
B. ₦1,000
C. ₦1,500
D. ₦2,000
Question 11
A sole trader has a business income of ₦500,000 and a business expense of ₦200,000. What is the sole trader's profit?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Question 12
A firm uses a marketing mix strategy to promote its product. Which of the following is a key element of the marketing mix?
A. Product
B. Price
C. Promotion
D. Place
Question 13
A company's profit function is given by π = 2Q - 0.5L^2 - 0.5K^2, where π is the profit, Q is the output, L is the labor, and K is the capital. If the company wants to maximize its profit, what level of labor should it employ?
A. L = 5
B. L = 10
C. L = 15
D. L = 20
Question 14
A company produces two products, X and Y. The production process for product X requires 2 hours of labor and 1 hour of machine time, while the production process for product Y requires 1 hour of labor and 2 hours of machine time. If the company has a total of 120 hours of labor and 100 hours of machine time available, how many units of product X and product Y should the company produce to maximize its profit?
A. 10 units of X and 20 units of Y
B. 20 units of X and 10 units of Y
C. 15 units of X and 15 units of Y
D. 25 units of X and 5 units of Y
Question 15
A bank is considering offering a new type of loan product to its customers. Which of the following is a potential risk associated with offering this new loan product?
A. Increased competition
B. Increased default risk
C. Increased regulatory risk
D. Increased market risk

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: