POST UTME LEAD CITY UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a policy of paying its employees a bonus of 10% of their salary if they meet their quarterly targets. If an employee's salary is ₦100,000 per month, how much bonus will they receive if they meet their quarterly targets?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 2
A company is considering two different production strategies for its new product. The first strategy involves producing 100 units per day, while the second strategy involves producing 50 units per day. Which strategy is more likely to result in higher profits?
A. The first strategy
B. The second strategy
C. Both strategies are equally likely to result in higher profits
D. Neither strategy is likely to result in higher profits
Question 3
A company has a policy of paying its employees a bonus of 10% of their salary if they meet their quarterly targets. If an employee's salary is ₦100,000 per month, how much bonus will they receive if they meet their quarterly targets?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 4
A transportation company offers a 10% discount on all tickets for passengers who book online. If a passenger books a ticket online for ₦10,000, how much will the passenger pay after the discount?
A. ₦9,000
B. ₦9,500
C. ₦10,000
D. ₦10,500
Question 5
A company's revenue function is given by R = 200Q - 2Q^2, where R is the total revenue and Q is the quantity sold. If the company sells 50 units, what is its total revenue?
A. ₦6000
B. ₦7000
C. ₦8000
D. ₦9000
Question 6
A company's introduction to commerce involves understanding the following concepts. Which one is NOT a characteristic of a company's introduction to commerce?
A. Market research
B. Product development
C. Financial planning
D. Human resource management
Question 7
A sole trader's business is affected by the following factors. Which one is NOT a characteristic of a sole trader's business?
A. Limited liability
B. Unlimited liability
C. Flexibility in decision-making
D. Separation of ownership and management
Question 8
A company uses a combination of both fixed and variable costs to produce its products. Which of the following is an example of a fixed cost?
A. Rent
B. Wages
C. Raw materials
D. Utilities
Question 9
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases its labor input from 100 to 121 units, and its capital input from 100 to 121 units, by how many percentage points will its quantity produced increase?
A. 10%
B. 15%
C. 20%
D. 25%
Question 10
A company has a policy of paying its employees a bonus of 10% of their salary if they meet their quarterly targets. If an employee's salary is ₦100,000 per month, how much bonus will they receive if they meet their quarterly targets?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 11
A consumer's indifference curve is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000, and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?
A. x = 20, y = 10
B. x = 15, y = 15
C. x = 10, y = 20
D. x = 5, y = 25
Question 12
A company's warehouse is designed to store 5000 crates of goods. The warehouse has 5 aisles, each with 10 storage bays. If each storage bay can hold 10 crates, what is the maximum number of crates that can be stored in the warehouse?
A. 5000
B. 50000
C. 500000
D. 5000000
Question 13
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 discount received?
A. ₦500
B. ₦1,000
C. ₦1,500
D. ₦2,000
Question 14
A firm's profit function is given by π = 100Q - 2Q^2 - 100, where π is the profit and Q is the quantity produced. If the firm produces 50 units, what is its profit?
A. ₦1000
B. ₦2000
C. ₦3000
D. ₦4000
Question 15
A consumer purchases a product that is defective and causes damage to their property. The consumer sues the manufacturer for damages. What is the legal basis for the consumer's claim?
A. The Consumer Protection Act.
B. The Sale of Goods Act.
C. The Defective Products Act.
D. The Product Liability Act.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: