POST UTME UNILAG 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's memorandum of association is a document that outlines the company's objectives and powers. Discuss.
A. True
B. False
C. Partially true
D. Not applicable
Question 2
In a perfectly competitive market, the demand curve for a firm's product is its
A. marginal revenue curve
B. average revenue curve
C. marginal cost curve
D. average cost curve
Question 3
A company has a warehouse with a capacity to store 10,000 units of goods. The warehouse is currently 70% full. If the company receives an order for 5,000 units, what is the percentage of the warehouse that will be occupied after fulfilling the order?
A. 50
B. 60
C. 70
D. 80
Question 4
A company's marketing strategy involves a combination of advertising, sales promotions, and public relations. Which of the following is a key objective of this strategy?
A. To increase brand awareness
B. To generate leads
C. To build customer loyalty
D. To reduce costs
Question 5
A company is sued for violating the Consumer Protection Act. The company's defense is that the consumer did not read the fine print on the contract. Which of the following is the most likely outcome?
A. The court will rule in favor of the company.
B. The court will rule in favor of the consumer.
C. The case will be dismissed due to lack of evidence.
D. The company will be ordered to pay damages to the consumer.
Question 6
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers from unfair trade practices. Which of the following is a key provision of the Act?
A. Prohibition of false or misleading advertisements
B. Establishment of the Consumer Protection Council
C. Compensation for consumers who suffer loss or injury due to unfair trade practices
D. Regulation of consumer credit
Question 7
In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is
A. a vertical line
B. a horizontal line
C. a downward-sloping curve
D. an upward-sloping curve
Question 8
A warehouse's inventory management system uses the first-in-first-out (FIFO) method to track stock levels. Discuss the advantages and disadvantages of this method.
A. Advantages: reduces stockouts, minimizes waste; Disadvantages: may lead to overstocking, increases labor costs
B. Advantages: reduces labor costs, minimizes waste; Disadvantages: may lead to stockouts, increases inventory costs
C. Advantages: reduces inventory costs, minimizes stockouts; Disadvantages: may lead to overstocking, increases labor costs
D. Advantages: reduces labor costs, minimizes waste; Disadvantages: may lead to stockouts, increases inventory costs
Question 9
A consumer is considering purchasing a product online. What is the main advantage of this option?
A. Convenience, flexibility, and wider selection
B. Lower prices, improved quality, and enhanced customer service
C. Increased security, reduced risk, and improved returns policy
D. Enhanced brand reputation, improved customer loyalty, and increased sales
Question 10
A bank's cash management system uses the float method to manage its cash flow. Discuss the advantages and disadvantages of this method.
A. Advantages: reduces cash handling costs, minimizes the risk of theft; Disadvantages: may lead to over- or under-estimation of cash flow
B. Advantages: reduces the risk of theft, minimizes cash handling costs; Disadvantages: may lead to over- or under-estimation of cash flow
C. Advantages: reduces cash handling costs, minimizes the risk of theft; Disadvantages: may lead to over- or under-estimation of cash flow
D. Advantages: reduces the risk of theft, minimizes cash handling costs; Disadvantages: may lead to over- or under-estimation of cash flow
Question 11
A company has a policy of paying its employees a bonus of 10% of their salary after 5 years of service. If an employee is currently earning ₦100,000 per month, what is the total bonus the employee will receive after 5 years?
A. ₦600,000
B. ₦700,000
C. ₦800,000
D. ₦900,000
Question 12
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current inputs are L = 16 and K = 9, what is the marginal product of labor?
A. 1
B. 2
C. 3
D. 4
Question 13
A company's profit function is given by P(x) = R(x) - C(x). If the company's current revenue and cost functions are R(x) = 100x - 2x^2 and C(x) = 2x + 3x^2, respectively, what is the company's current profit?
A. 20
B. 40
C. 60
D. 80
Question 14
A company has a warehouse with a capacity of 10,000 units. The company's inventory level is currently at 8,000 units. If the company receives a shipment of 2,000 units, what is the new inventory level?
A. 6,000 units
B. 8,000 units
C. 10,000 units
D. 12,000 units
Question 15
A firm's production function is given by Q = 100L^0.5, where Q is the quantity produced and L is the labor input. If the firm wants to produce 400 units of output, how many workers should it hire?
A. 10 workers
B. 20 workers
C. 30 workers
D. 40 workers

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