POST UTME IMS U 2017 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
In a sole trade business, the owner's personal and business finances are not separate. What is the primary advantage of this type of business?
Question 2
A firm specializes in producing two goods, A and B. The production function for good A is given by ( Q_A = 2L^2 + 3K ), where L is labor and K is capital. The production function for good B is given by ( Q_B = 4L + 2K ). If the firm has 8 units of labor and 6 units of capital, how many units of good A and good B should it produce?
Question 3
A consumer protection agency receives a complaint from a customer who was sold a defective product. The agency finds that the product was indeed defective and that the seller had knowledge of the defect. What is the agency's next course of action?
Question 4
A company uses a transportation mode that involves the movement of goods by land, sea, or air. This is an example of which type of transportation?
Question 5
A firm has two warehouses: Warehouse A and Warehouse B. Warehouse A has a capacity of 1000 units, and Warehouse B has a capacity of 500 units. The firm has 1200 units of stock. If it wants to store the stock in the two warehouses, what is the minimum number of trips required to transport the stock?
Question 6
A company has 100,000 shares outstanding, and the market price per share is ₦10. What is the total market value of the company's shares?
Question 7
A bank has a reserve requirement of 20% and a cash reserve of ₦500,000. If the bank wants to increase its lending capacity by 50%, what is the new cash reserve?
Question 8
A firm's revenue function is given by R(p) = 2p^2 + 3p. If the firm's marginal revenue is ₦100, what is the optimal price (p)?
Question 9
A firm has a warehouse with a capacity of 500 units. The firm has 300 units of stock. If it wants to store the stock in the warehouse, what is the maximum number of units that can be stored?
Question 10
A company's stockout rate is 10%. If the company sells 1,000 units per day, how many units will it stockout?
Question 11
A company has a production process that involves two stages: cutting and sewing. The cutting stage takes 2 hours, and the sewing stage takes 3 hours. If the company wants to produce 1000 units, how many hours will it take to complete the production process?
Question 12
A company has a production process that involves two stages: cutting and sewing. The cutting stage takes 2 hours, and the sewing stage takes 3 hours. If the company wants to produce 500 units, how many hours will it take to complete the production process?
Question 13
A company has a production process that involves three stages: cutting, sewing, and packaging. The cutting stage takes 2 hours, the sewing stage takes 3 hours, and the packaging stage takes 1 hour. If the company wants to produce 2000 units, how many hours will it take to complete the production process?
Question 14
A company has a production process that involves three stages: cutting, sewing, and packaging. The cutting stage takes 2 hours, the sewing stage takes 3 hours, and the packaging stage takes 1 hour. If the company wants to produce 1000 units, how many hours will it take to complete the production process?
Question 15
A firm has a warehouse with a capacity of 2000 units. The firm has 1500 units of stock. If it wants to store the stock in the warehouse, what is the maximum number of units that can be stored?
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