POST UTME UNIBEN 2018 Commerce | Objective

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Question 1
A company has two warehouses, A and B, located 100 km apart. Warehouse A has 500 units of a product, and Warehouse B has 300 units of the same product. The transportation cost per unit from Warehouse A to Warehouse B is ₦50, and the transportation cost per unit from Warehouse B to Warehouse A is ₦75. If the company wants to minimize the total transportation cost, what should it do?
A. Transport all units from Warehouse A to Warehouse B
B. Transport all units from Warehouse B to Warehouse A
C. Transport 200 units from Warehouse A to Warehouse B and 300 units from Warehouse B to Warehouse A
D. Transport 300 units from Warehouse A to Warehouse B and 200 units from Warehouse B to Warehouse A
Question 2
A consumer purchases a product from a retailer who is not the manufacturer. The product is defective and causes harm to the consumer. What liability does the retailer have in this scenario?
A. Strict liability
B. Negligence
C. Product liability
D. Breach of warranty
Question 3
A company is considering exporting its products to a foreign country. Which of the following is a type of export that the company should consider?
A. Direct export
B. Indirect export
C. Export through a trading company
D. Export through a joint venture
Question 4
The Consumer Protection Act of _______________ provides for the protection of consumers in Nigeria.
A. 1999
B. 2004
C. 2010
D. 2015
Question 5
In a perfectly competitive market, the law of supply states that the quantity of a good that producers are willing to supply at each price level is determined by the?
A. Marginal Cost
B. Marginal Revenue
C. Opportunity Cost
D. Fixed Cost
Question 6
A company is planning to launch a new marketing campaign in Nigeria. The company wants to target a specific segment of the market. What marketing research technique should the company use to identify the target market?
A. Focus group discussion
B. Surveys
C. Content analysis
D. Experimental design
Question 7
The _______________ is a type of business organization that is owned and controlled by two or more individuals.
A. Sole Trader
B. Partnership
C. Limited Liability Company
D. Cooperative Society
Question 8
A firm's revenue is calculated as the product of the price per unit and the quantity sold. If the price per unit is ₦100 and the quantity sold is 50 units, what is the total revenue?
A. ₦4000
B. ₦5000
C. ₦6000
D. ₦7000
Question 9
The _______________ is a type of business organization that is owned and controlled by its members.
A. Sole Trader
B. Partnership
C. Limited Liability Company
D. Cooperative Society
Question 10
The _______________ is a type of business organization that is owned and controlled by a single individual.
A. Sole Trader
B. Partnership
C. Limited Liability Company
D. Cooperative Society
Question 11
A company has a warehouse that stores 1000 units of a product. The company wants to determine the optimal inventory level for the product. The holding cost per unit is ₦20, and the ordering cost per order is ₦100. If the company wants to minimize its total cost, what should it do?
A. Order 500 units
B. Order 750 units
C. Order 1000 units
D. Order 1250 units
Question 12
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor (w) is 10 and the price of capital (r) is 20, and the firm wants to maximize its profit, what is the optimal level of labor (L) and capital (K)?
A. L = 100, K = 100
B. L = 50, K = 50
C. L = 200, K = 200
D. L = 150, K = 150
Question 13
A consumer protection agency wants to investigate a company that has been accused of selling defective products. The agency has collected 100 samples of the product, and 20 of them have been found to be defective. If the agency wants to determine whether the product is defective at a 5% significance level, what should it do?
A. Use a z-test
B. Use a t-test
C. Use a chi-squared test
D. Use a binomial test
Question 14
A sole trader's business is registered under the _______________ Act.
A. Companies and Allied Matters Act
B. Companies Act
C. Business Names Act
D. Partnership Act
Question 15
A company has a cash reserve of ₦500,000 and wants to invest in a project that requires an initial investment of ₦200,000. What is the maximum amount the company can borrow from a bank?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000

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