POST UTME MOUNTAIN TOP UNIVERSITY 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a production process that involves the use of a machine. Which of the following is a key factor to consider in the design of the machine?
A. Efficiency
B. Safety
C. Reliability
D. Cost-effectiveness
Question 2
A warehouse manager wants to optimize storage space. Which of the following storage systems would be most effective?
A. First-In-First-Out (FIFO)
B. Last-In-First-Out (LIFO)
C. FIFO with a Twist
D. LIFO with a Twist
Question 3
A country's trade balance is given by TB = X - M, where X is the value of exports and M is the value of imports. If X = 100 and M = 80, what is the trade balance?
A. 10
B. 20
C. 30
D. 40
Question 4
A bank's reserve requirement is 10%. If the bank has a deposit of ₦100,000, how much must it keep in reserve?
A. ₦10,000
B. ₦11,000
C. ₦12,000
D. ₦13,000
Question 5
A firm is considering investing in a new project with a payback period of 5 years. If the firm's cost of capital is 12%, what is the present value of the project's cash flows?
A. ₦1,000,000
B. ₦1,200,000
C. ₦1,500,000
D. ₦2,000,000
Question 6
A consumer purchases a product from a retailer, but the product is defective. The consumer can seek redress under which of the following?
A. Sale of Goods Act
B. Consumer Protection Act
C. Companies and Allied Matters Act
D. Banking and Other Financial Institutions Act
Question 7
A firm's cost function is given by C(x) = 2x^2 + 10x + 5. If the firm produces 25 units, what is the total cost?
A. ₦1250
B. ₦1500
C. ₦1750
D. ₦2000
Question 8
A firm's production function is given by Q = 2L^0.5H^0.5. If the firm's current labor and capital inputs are L = 16 and H = 9, respectively, what is the firm's current output?
A. 12
B. 24
C. 36
D. 48
Question 9
The concept of 'Giffen Goods' in economics is associated with the law of demand. Which of the following is a characteristic of Giffen Goods?
A. The demand for Giffen Goods increases as income increases.
B. The demand for Giffen Goods decreases as income decreases.
C. The demand for Giffen Goods increases as income decreases.
D. The demand for Giffen Goods decreases as income increases.
Question 10
A company's marketing strategy involves creating a sense of urgency among its customers to purchase a product. This strategy is an example of which of the following?
A. Scarcity
B. Limited time offer
C. Free gift
D. Discount
Question 11
A company's marketing strategy involves creating a new product line. Which of the following is a key consideration in the product development process?
A. Market research and analysis
B. Product positioning and branding
C. Supply chain management and logistics
D. Financial planning and budgeting
Question 12
A company is considering a new marketing strategy that involves social media advertising. Which of the following is a key benefit of social media advertising?
A. Increased brand awareness
B. Improved customer engagement
C. Enhanced customer loyalty
D. Increased sales revenue
Question 13
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units. If the company uses a first-in, first-out (FIFO) inventory system, what is the cost of the units shipped to the customer?
A. ₦800,000
B. ₦900,000
C. ₦1,000,000
D. ₦1,200,000
Question 14
A company's inventory system uses a first-in, first-out (FIFO) method. If the company has 100 units of a product in stock, and 20 units are sold, what is the new quantity of the product in stock?
A. 80
B. 90
C. 100
D. 120
Question 15
A consumer protection agency has received a complaint about a company's unfair business practices. Which of the following is a possible action the agency can take?
A. Issue a warning letter to the company
B. Conduct an investigation into the company's practices
C. Impose a fine on the company
D. Refer the case to the relevant regulatory authority

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