POST UTME UNILAG 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering a new business venture. What is the primary consideration in determining the venture's feasibility?
A. The company's financial resources and budget
B. The target market's size and growth rate
C. The company's competitive advantage and market position
D. The product's life cycle and market maturity
Question 2
A foreign trade agreement between two countries involves the exchange of goods and services. What is the primary purpose of the agreement?
A. To promote economic growth and development
B. To reduce trade barriers and increase trade volumes
C. To protect domestic industries from foreign competition
D. To increase government revenue through tariffs
Question 3
A firm has a production function given by the equation Q = 3L^(2)K, where Q is the quantity produced, L is labor, and K is capital. If the firm wants to increase its output by 25% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 4
A warehouse manager is responsible for maintaining a inventory level of 500 units. The current inventory level is 300 units, and the demand rate is 20 units per day. What is the minimum order quantity (MOQ) to meet the demand rate?
A. 1000
B. 2000
C. 3000
D. 4000
Question 5
A company is considering entering into a contract with a supplier. The company has determined that the supplier is reputable and has a good track record of delivering high-quality products on time. However, the company is concerned about the potential risks associated with the contract. Which of the following contract management strategies would be most effective in mitigating these risks?
A. Contract negotiation
B. Contract review
C. Contract monitoring
D. Contract termination
Question 6
A consumer is considering purchasing a product from a company that has a reputation for producing high-quality products. However, the consumer is also concerned about the environmental impact of the product. Which of the following marketing strategies would be most effective in addressing the consumer's concerns?
A. Green marketing
B. Social marketing
C. Product placement
D. Public relations
Question 7
A warehouse has a storage capacity of 10,000 units. If the warehouse is currently storing 8,000 units, what is the percentage of storage capacity used?
A. 80%
B. 85%
C. 90%
D. 95%
Question 8
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The sole trader is not liable for any business debts.
B. The sole trader is not entitled to any business benefits.
C. The sole trader is not required to file tax returns.
D. The sole trader is not protected by the Companies and Allied Matters Act (CAMA).
Question 9
A warehouse manager is responsible for maintaining a high level of inventory turnover while minimizing stockouts. Which of the following inventory control techniques is most likely to achieve this goal?
A. Just-in-time (JIT) inventory system
B. Economic order quantity (EOQ) model
C. Safety stock model
D. Vendor-managed inventory (VMI) system
Question 10
A company is considering two marketing strategies: a high-cost, high-reward campaign or a low-cost, low-reward campaign. Which of the following is a key consideration in determining which strategy to choose?
A. The company's target market size and growth rate
B. The company's current financial resources and budget
C. The company's competitive advantage and market position
D. The company's product life cycle and market maturity
Question 11
A company is considering a new product launch. What is the primary consideration in determining the product's price?
A. The company's cost of production and desired profit margin
B. The target market's willingness to pay and perceived value
C. The company's competitive advantage and market position
D. The product's life cycle and market maturity
Question 12
A company issues a prospectus to raise funds for a new project. Which of the following statements is true about the prospectus?
A. It must be registered with the Securities and Exchange Commission (SEC)
B. It must be approved by the Nigerian Stock Exchange (NSE)
C. It must be signed by the company's auditor
D. It must be filed with the Corporate Affairs Commission (CAC)
Question 13
A firm's production function is given by the equation Q = 2L^(1/2)K^(1/2), where Q is the quantity produced, L is labor, and K is capital. If the firm wants to increase its output by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 14
A company is considering launching a new product in a foreign market. The company has conducted market research and has determined that the product will be successful in the target market. However, the company is concerned about the potential risks associated with launching a new product in a foreign market. Which of the following risk management strategies would be most effective in mitigating these risks?
A. Market research
B. Product testing
C. Market segmentation
D. Risk assessment and mitigation
Question 15
A company is considering the purchase of a new insurance policy to protect against potential losses. The policy has a premium of ₦10,000 per year and a deductible of ₦5,000. Which of the following best describes the type of insurance policy the company is likely to purchase?
A. Excess insurance policy
B. Deductible insurance policy
C. Excess of loss insurance policy
D. Stop-loss insurance policy

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