POST UTME IMS U 2021 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has a policy of offering a 10% discount to customers who pay their bills within 30 days. If a customer pays a bill of ₦10,000 within 30 days, how much will the customer pay after the discount?
Question 2
A consumer purchases a product with a price of ₦5,000 and a 10% discount. If the consumer pays ₦4,500, what is the amount of the discount?
Question 3
A company specializes in producing high-quality leather goods. It has two production lines: one for shoes and the other for handbags. The production process for shoes involves cutting, stitching, and finishing, while the production process for handbags involves cutting, sewing, and packaging. The company uses a just-in-time (JIT) inventory system to manage its inventory levels. If the company produces 1000 shoes per day and 500 handbags per day, and each shoe requires 2 hours of cutting time and 1 hour of stitching time, while each handbag requires 1 hour of cutting time and 2 hours of sewing time, what is the total labor hours required per day to produce the shoes and handbags?
Question 4
A firm's production function is given by Q = 2L^0.5K^0.25. If the firm wants to produce 16 units of output
Question 5
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost compared to other countries. Which of the following is a correct example of comparative advantage?
Question 6
A company has a policy of offering a 5% commission to its sales representatives for each sale made. If a sales representative makes a sale of ₦50,000, how much commission will the sales representative earn?
Question 7
A company imports goods worth ₦1,000,000 and pays a 5% customs duty. If the company also pays a 2% sales tax on the imported goods, what is the total amount paid to the government?
Question 8
A warehouse management system (WMS) is a software application that helps manage the storage and movement of inventory within a warehouse. Which of the following is a key benefit of using a WMS?
Question 9
In a perfectly competitive market, the law of supply states that as the price of a good increases, the quantity supplied will
Question 10
A company is considering launching a new product line of eco-friendly cleaning products. The company has conducted market research and found that the demand for eco-friendly cleaning products is increasing rapidly. However, the company is concerned about the high production costs associated with using natural ingredients. If the company expects to sell 1000 units of the new product per month at a price of ₦500 per unit, and the production cost per unit is ₦300, what is the minimum price the company should charge to ensure a profit of ₦50 per unit?
Question 11
A firm's cost of capital is the minimum rate of return that investors require in exchange for
Question 12
A country's balance of payments accounts can be used to determine its
Question 13
A consumer has a utility function given by U = 2A + 3B. If the prices of A and B are 10 and 20 respectively, and the consumer spends all their budget on good A, what is the maximum amount they can spend on good B?
Question 14
A firm's production function is given by Q = 2L^(1/2)K^(1/2). If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output?
Question 15
A company's marketing strategy involves creating a viral video that will be shared on social media. What type of marketing is this?
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