POST UTME DELSU 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A warehouse is storing a large quantity of perishable goods. Which of the following is a key consideration for the warehouse manager when determining the optimal storage conditions?
A. The temperature of the storage area.
B. The humidity level of the storage area.
C. The type of shelving used in the storage area.
D. The location of the storage area.
Question 2
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 a commodity in this market?
A. ₦100, 100 units
B. ₦120, 80 units
C. ₦150, 60 units
D. ₦180, 40 units
Question 3
A company is considering entering a new market. Which of the following is a major consideration in the decision-making process?
A. The size of the market
B. The level of competition
C. The potential for growth
D. The cultural differences
Question 4
A company is considering investing in a new production facility. Which of the following is a major consideration in the decision-making process?
A. The cost of raw materials
B. The availability of skilled labor
C. The potential for economies of scale
D. The impact on the environment
Question 5
A company's marketing strategy involves creating a sense of exclusivity to encourage customers to make a purchase. This strategy is an example of which of the following?
A. Scarcity principle
B. Reciprocity principle
C. Social proof principle
D. Authority principle
Question 6
A country has a comparative advantage in producing wheat, but a disadvantage in producing rice. What is the best course of action for the country to take in terms of international trade?
A. To specialize in producing wheat and import rice
B. To specialize in producing rice and import wheat
C. To produce both wheat and rice domestically
D. To impose trade barriers to protect domestic industries
Question 7
A company's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following is NOT a characteristic of a well-planned marketing mix?
A. It is flexible and adaptable to changing market conditions.
B. It is focused on a specific target market.
C. It is based on a thorough analysis of the company's resources and capabilities.
D. It is solely dependent on advertising and sales promotions.
Question 8
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers against unfair trade practices. Which of the following is NOT a provision of the Act?
A. Prohibition of false or misleading advertisements
B. Prohibition of unfair contract terms
C. Compulsory registration of businesses
D. Establishment of a national consumer protection agency
Question 9
A sole trader has a business income of ₦500,000 and expenses of ₦300,000. What is the business's profit?
A. ₦200,000
B. ₦300,000
C. ₦400,000
D. ₦500,000
Question 10
A company has a 15% increase in profits from last year. If the profits last year were ₦500,000, what are the profits this year?
A. ₦575,000
B. ₦575,000
C. ₦575,000
D. ₦575,000
Question 11
A firm is considering two marketing strategies: A and B. Strategy A has a 60% chance of success and a 40% chance of failure, while strategy B has a 70% chance of success and a 30% chance of failure. If the firm wants to maximize its chances of success, which strategy should it choose?
A. Strategy A
B. Strategy B
C. Both strategies have equal chances of success
D. It is impossible to determine which strategy is better
Question 12
A firm's revenue function is given by R(x) = 2x^2 + 10x, where x is the number of units sold. If the firm wants to maximize its revenue, what is the optimal number of units to sell?
A. 5 units
B. 10 units
C. 15 units
D. 20 units
Question 13
What is the primary function of the International Chamber of Commerce (ICC) in facilitating international trade?
A. To provide a platform for governments to negotiate trade agreements
B. To establish a set of rules and guidelines for international trade
C. To promote the use of electronic data interchange (EDI) in international trade
D. To provide financing for international trade transactions
Question 14
A firm has a 10% chance of losing ₦1000 and a 90% chance of gaining ₦500. What is the expected value of the firm's investment?
A. ₦45
B. ₦50
C. ₦55
D. ₦60
Question 15
A firm's profit function is given by P(x) = R(x) - C(x), where R(x) is the revenue function and C(x) is the cost function. If the firm produces 10 units, what is the profit?
A. ₦100
B. ₦200
C. ₦300
D. ₦400

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