POST UTME EKSU 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's insurance policy covers losses due to fire, theft, and natural disasters. Which of the following is NOT a type of risk covered by this policy?
Question 2
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the price of labor (L) is ₦50 per unit and the price of capital (K) is ₦100 per unit, what is the firm's marginal product of labor (MPL) when L = 4?
Question 3
A company's warehouse is designed to store 5000 crates of goods. If the crates are stacked in a rectangular prism with a base area of 10m^2 and a height of 5m, what is the volume of the warehouse in cubic meters?
Question 4
A company's cash flow statement shows a net cash inflow of ₦500,000. If the company's cash balance at the beginning of the year was ₦200,000, what is the cash balance at the end of the year?
Question 5
A company is considering exporting its products to a foreign market. Which of the following is a benefit of exporting?
Question 6
A company is considering the introduction of a new product line. The product requires an initial investment of ₦5 million and has a projected annual profit of ₦2.5 million. If the company's cost of capital is 20%, what is the expected rate of return on investment (ROI)?
Question 7
A company has a warehouse with a capacity to store 500 crates of goods. If the crates are stacked in a rectangular prism with a base area of 2m^2 and a height of 20m, what is the volume of the warehouse in cubic meters?
Question 8
In a perfectly competitive market, what is the relationship between the marginal revenue (MR) and marginal cost (MC) curves?
Question 9
A company is considering a new marketing strategy that involves creating a social media campaign to promote its products. The company wants to ensure that its campaign is effective and reaches its target audience. Which of the following is the most appropriate way for the company to measure the success of its campaign?
Question 10
A company is considering investing in a new production process that will increase its output by 20%. However, the process will also increase its costs by 15%. Which of the following is the most likely outcome of this investment?
Question 11
A consumer is considering purchasing a product from a company that has a reputation for producing high-quality products. However, the consumer is also concerned about the potential risks associated with purchasing from this company, including the risk of product defects and the potential for the company to engage in deceptive marketing practices. Which of the following is the most appropriate way for the consumer to mitigate these risks?
Question 12
A company's sole trader is considering the introduction of a new product line. The product requires an initial investment of ₦2.5 million and has a projected annual profit of ₦1.2 million. If the company's cost of capital is 12%, what is the expected rate of return on investment (ROI)?
Question 13
A company's production process involves the following steps: raw material procurement, production, and packaging. If the company spends ₦200,000 on raw materials, ₦300,000 on production, and ₦100,000 on packaging, what is the total cost of production?
Question 14
A consumer protection agency has received a complaint about a company's misleading advertisement. The advertisement claims that a product is '100% effective' when, in fact, it has a success rate of only 80%. Which of the following is a violation of consumer protection law?
Question 15
A firm's production function is given by the equation Q = 2L + 3K, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm uses 10 units of labor and 5 units of capital, what is the quantity produced?
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