POST UTME NOUN 2019 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's 'Marketing Mix' is a crucial component of its marketing strategy. Which of the following is NOT a key element of the Marketing Mix?
Question 2
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm increases the price from ₦10 to ₦12, what is the percentage change in the quantity demanded?
Question 3
A company's cost function is given by C = 100L + 200K, where C is the total cost, L is labor, and K is capital. If the company increases labor from 100 to 121 units and capital from 100 to 121 units, what is the new total cost?
Question 4
A bank's balance sheet is given by Assets = ₦100,000, Liabilities = ₦50,000, and Equity = ₦50,000. If the bank increases its assets by 10% and its liabilities by 5%, what is the new equity?
Question 5
A company uses a marketing strategy that involves creating a sense of urgency to encourage customers to make a purchase. This is an example of which of the following?
Question 6
A bank uses a risk management system to identify and mitigate potential risks in its investment portfolio. The system includes a credit risk module that uses a credit scoring model to evaluate the creditworthiness of its borrowers. What is the primary benefit of using a credit scoring model in this credit risk module?
Question 7
A company uses a just-in-time inventory system. If the company receives an order for 1000 units and the warehouse is currently empty, what is the minimum time it will take to receive the order?
Question 8
The concept of 'Consumer Protection' in Commerce is closely related to the idea of 'Consumer Rights'. Which of the following is NOT a fundamental consumer right?
Question 9
A company transports goods from Lagos to Abuja using a third-party logistics provider. The company is liable for any damage to the goods during transit under which of the following laws?
Question 10
A company uses a transportation mode that has a capacity of 500 units per trip. If the company needs to transport 2000 units, how many trips will be required?
Question 11
A company's 'Warehousing and Stock Control' system is critical to its supply chain management. Which of the following is NOT a key benefit of an effective warehousing system?
Question 12
A company specializes in producing a single product, which is a type of textile. The production process involves several stages, including spinning, weaving, and finishing. The company uses a just-in-time (JIT) inventory system to manage its production and inventory levels. What is the primary advantage of using a JIT inventory system in this production process?
Question 13
A consumer protection law that prohibits unfair or deceptive business practices is known as
Question 14
A person purchases a life insurance policy that pays out a lump sum in the event of their death. This is an example of which of the following types of insurance?
Question 15
A bank offers a savings account that earns interest on the deposited amount. This is an example of which of the following types of financial institution?
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