POST UTME OAU 2020 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has two production plants, A and B. Plant A produces 100 units of a product per day, while plant B produces 150 units per day. If the total demand for the product is 250 units per day, what is the probability that plant A will produce more than 50% of the total demand?
Question 2
A firm produces two goods, X and Y, using two inputs, labor (L) and capital (K). The production function for good X is given by QX = 2L^0.5 K^0.5. The production function for good Y is given by QY = 3L^0.25 K^0.75. If the firm has 100 units of labor and 200 units of capital, how many units of good X will it produce?
Question 3
A company has the following cash flow statement: Cash Inflows = ₦100m, Cash Outflows = ₦80m. What will be the company's net cash flow?
Question 4
A company's marketing strategy involves creating a brand image that appeals to a specific demographic. This approach is an example of which of the following marketing concepts?
Question 5
A firm's revenue function is given by R = 100Q - 2Q^2. If the firm sells 10 units of its product, what is its total revenue?
Question 6
A company exports 500 units of a product to a foreign country. If the exchange rate is 1 USD = 360 NGN, what is the total value of the export in NGN?
Question 7
A bank in Nigeria offers a savings account with a 5% annual interest rate. If a customer deposits ₦10,000, how much will the customer have in the account after one year?
Question 8
A consumer protection agency receives a complaint about a product that has a defect. The agency decides to investigate the matter. What is the primary goal of the investigation?
Question 9
The demand for a product is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, find the price at which the quantity demanded is 50 units.
Question 10
In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is likely to be:
Question 11
A company is considering two marketing strategies: A and B. Strategy A has a probability of success of 0.6 and a cost of ₦100,000. Strategy B has a probability of success of 0.8 and a cost of ₦150,000. If the company wants to maximize its expected return, which strategy should it choose?
Question 12
A firm has a market share of 20% in a particular industry. If the industry's total market size is ₦150 million, what is the firm's revenue?
Question 13
A company has a production function Q = 2L^0.5H^0.5, where Q is output, L is labor and H is capital. If the company wants to increase output by 20% and labor by 15%, what percentage increase in capital is required?
Question 14
A firm's production function is given by Q = 2L + 3K, where Q is output, L is labor, and K is capital. If the firm wants to produce 12 units of output, how many units of capital will it need if it employs 4 units of labor?
Question 15
A company's marketing strategy involves creating a brand image that appeals to a specific demographic. This approach is an example of which of the following marketing concepts?
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