POST UTME KSU 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company uses a transportation mode that is not suitable for the type of goods being transported. Which of the following is a potential consequence of this?
A. Damage to the goods during transportation.
B. Increased transportation costs.
C. Delays in delivery.
D. All of the above.
Question 2
A firm's warehouse is designed to store goods in a way that minimizes the risk of damage. Which of the following is a key principle of warehouse design?
A. The use of shelving to maximize storage capacity.
B. The use of pallets to reduce handling costs.
C. The use of a first-in, first-out (FIFO) inventory system.
D. The use of a just-in-time (JIT) inventory system.
Question 3
A firm's revenue function is given by R = 2Q^2. If the firm's output is 4, what is the level of revenue?
A. 16
B. 32
C. 64
D. 128
Question 4
A company's liability for an accident caused by a defective product is limited by the Product Liability Act. Which of the following is a defence available to the company?
A. The product was used for a purpose not reasonably foreseeable by the manufacturer.
B. The product was not defective at the time of sale.
C. The product was modified by the consumer after purchase.
D. The product was used in a way that was not in accordance with the manufacturer's instructions.
Question 5
A company's marketing strategy involves creating a brand identity that is consistent across all its products and services. What is the primary goal of this strategy?
A. To increase market share
B. To create a unique selling proposition
C. To establish a strong brand identity
D. To reduce production costs
Question 6
A consumer's indifference curve is given by U = 2X + 3Y. If the consumer's utility level is 12, what is the combination of goods X and Y?
A. X = 2, Y = 4
B. X = 4, Y = 2
C. X = 6, Y = 1
D. X = 1, Y = 6
Question 7
A company purchases a liability insurance policy that covers up to ₦1 million in case of any unforeseen event. What type of risk is the company trying to mitigate?
A. Credit risk
B. Liquidity risk
C. Operational risk
D. Liability risk
Question 8
A company is considering two production methods for its new product: Method A, which requires an initial investment of ₦1,500,000 and produces 10,000 units per month, and Method B, which requires an initial investment of ₦2,000,000 and produces 15,000 units per month. If the company expects to sell each unit for ₦500, how many months will it take for the company to break even using Method A?
A. 12 months
B. 15 months
C. 18 months
D. 20 months
Question 9
A company has a production function of Q = 2L + 3K, where Q is output, L is labor, and K is capital. If the firm has 16 units of labor and 25 units of capital, what is the marginal product of labor?
A. 2
B. 3
C. 4
D. 5
Question 10
A firm is considering two export strategies: Strategy A, which involves exporting 10,000 units of product to Country X at a price of ₦500 per unit, and Strategy B, which involves exporting 5,000 units of product to Country Y at a price of ₦750 per unit. If the firm expects to earn a profit of ₦50 per unit on each sale, how much profit will the firm make from Strategy A?
A. ₦5,000,000
B. ₦6,250,000
C. ₦7,500,000
D. ₦8,750,000
Question 11
A consumer purchases a product online and pays for it using a credit card. What type of risk is the consumer exposed to?
A. Credit risk
B. Liquidity risk
C. Operational risk
D. Market risk
Question 12
A company has two warehouses, A and B, with capacities of 10,000 units and 5,000 units, respectively. If the company expects to receive 8,000 units of inventory, how many units can be stored in Warehouse B?
A. 2,000 units
B. 3,000 units
C. 4,000 units
D. 5,000 units
Question 13
A consumer purchases a product online and is not satisfied with its quality. Which of the following is a right that the consumer has under the Consumer Protection Act?
A. The right to a full refund.
B. The right to a replacement product.
C. The right to compensation for damages.
D. The right to cancel the contract.
Question 14
A bank offers a savings account with a 5% annual interest rate. If a customer deposits ₦10,000 into the account, how much will the customer have after one year?
A. ₦10,500
B. ₦10,500.00
C. ₦10,500.00
D. ₦10,500.00
Question 15
A firm's cost function is given by C = 2L + 3K. If the firm's current inputs are L = 6 and K = 4, what is the total cost?
A. 30
B. 40
C. 50
D. 60

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