POST UTME NOUN 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A sole trader's business is characterized by:
Question 2
A company has a share capital of ₦1,000,000, divided into 100,000 ordinary shares of ₦10 each. If the company issues 20,000 shares at a premium of ₦5 per share, what is the total amount received from the issue of shares?
Question 3
A sole trader's business is affected by a natural disaster, resulting in a loss of ₦500,000. The sole trader has a liability of ₦200,000 and an asset of ₦300,000. What is the sole trader's net loss?
Question 4
A consumer has the following budget: ₦20,000 per month. The consumer spends ₦8,000 on rent, ₦4,000 on food, and ₦3,000 on transportation. What is the consumer's disposable income?
Question 5
In a sole trade business, what is the primary advantage of using a sole proprietorship structure?
Question 6
A company has the following financial data: Revenue = ₦3,000,000, Cost of Goods Sold = ₦1,800,000, Operating Expenses = ₦600,000. What is the company's Net Profit Margin?
Question 7
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's labor (L) increases by 20% and capital (K) remains constant, what is the percentage change in output (Q)?
Question 8
A consumer has a budget constraint of 100, and the prices of two goods are 5 and 10 respectively. If the consumer's indifference curve is tangent to the budget line, what is the consumer's optimal bundle?
Question 9
In a perfectly competitive market, the supply curve is determined by the marginal cost (MC) curve. If the MC curve shifts to the right, what will happen to the supply curve?
Question 10
A company's financial statements show that its revenue increased by 15% and its expenses decreased by 10% compared to the previous year. What is the effect on the company's net profit?
Question 11
The diagram below represents a:
Question 12
A consumer's budget constraint is given by 2X + 3Y = 12. If the price of good X increases by 50%, and the price of good Y remains constant, what will happen to the consumer's budget line?
Question 13
The concept of 'Gross Domestic Product' (GDP) is a measure of the total value of all final goods and services produced within a country's borders over a specific time period. Which of the following is NOT a component of GDP?
Question 14
In a perfectly competitive market, what is the relationship between the marginal revenue (MR) and the marginal cost (MC) of a firm?
Question 15
A consumer has the following budget: ₦15,000 per month. The consumer spends ₦5,000 on rent, ₦3,000 on food, and ₦2,000 on transportation. What is the consumer's disposable income?
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