POST UTME UNN 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm is considering two different marketing strategies for its product. Strategy A involves a high level of advertising and promotion, while Strategy B involves a low level of advertising and promotion. If the firm's objective is to maximize its market share, which strategy should it use?
A. Strategy A
B. Strategy B
C. Both strategies are equally effective
D. Neither strategy is effective
Question 2
A company's marketing mix involves a product with a high perceived value, but a low price. Which of the following is a potential consequence of this strategy?
A. Increased market share
B. Reduced customer satisfaction
C. Decreased perceived value
D. Improved brand image
Question 3
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a primary goal of advertising in this context?
A. To increase brand awareness
B. To persuade customers to buy the product
C. To provide customer service
D. To generate leads
Question 4
A firm's marketing mix involves a product with a high level of quality, a price that is slightly above average, and a distribution channel that is limited to a few select retailers. Which of the following best describes the target market for this product?
A. High-end consumers
B. Middle-class consumers
C. Budget-conscious consumers
D. Young adults
Question 5
The concept of opportunity cost is based on the idea that the cost of producing one good is the?
A. Opportunity cost
B. Marginal cost
C. Average cost
D. Sunk cost
Question 6
A company's marketing strategy involves creating a sense of urgency among customers to purchase a product. This is an example of which of the following psychological marketing techniques?
A. Scarcity
B. Social proof
C. Authority
D. Liking
Question 7
A consumer protection law requires businesses to provide clear and accurate information about their products. Which of the following is a consequence of non-compliance with this law?
A. Financial penalties
B. Loss of business reputation
C. Increased competition
D. Reduced consumer trust
Question 8
A firm is considering the introduction of a new product line that will be sold through a variety of distribution channels. Which of the following is the most appropriate way for the firm to determine the optimal distribution strategy?
A. Use the channel selection method to determine the most effective distribution channel
B. Conduct market research to determine the price elasticity of demand for the product
C. Use the marginal cost pricing rule to determine the optimal price
D. Negotiate with suppliers to reduce the variable cost of production
Question 9
A company's marketing strategy involves a mix of advertising and sales promotions. Which of the following best describes the primary goal of this strategy?
A. To increase brand awareness
B. To boost sales revenue
C. To enhance customer loyalty
D. To reduce production costs
Question 10
In a perfectly competitive market, the law of supply and demand dictates that the price of a commodity will be determined by the intersection of the supply and demand curves. However, if the market is characterized by oligopoly, the price of the commodity will be determined by the oligopolistic firms' strategic interactions. Which of the following best describes the primary difference between the two market structures?
A. The price of the commodity is determined by the intersection of the supply and demand curves.
B. The price of the commodity is determined by the oligopolistic firms' strategic interactions.
C. The supply curve is steeper in an oligopolistic market.
D. The demand curve is flatter in a perfectly competitive market.
Question 11
A company's transport management system involves the use of a fleet management software to track and manage vehicles. Which of the following is a benefit of this system?
A. Improved vehicle tracking
B. Reduced fuel consumption
C. Increased vehicle availability
D. Improved driver safety
Question 12
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation:
A. Open Market Operations (OMO), Reserve Requirements, and Moral Suasion
B. Open Market Operations (OMO), Reserve Requirements, and Quantitative Easing
C. Reserve Requirements, Moral Suasion, and Quantitative Easing
D. Open Market Operations (OMO), Moral Suasion, and Fiscal Policy
Question 13
A company's supply chain involves the movement of goods from suppliers to manufacturers to retailers. Which of the following is a key benefit of implementing a just-in-time (JIT) inventory system?
A. Reduced inventory costs
B. Improved product quality
C. Increased flexibility
D. Enhanced customer service
Question 14
A company is a type of business that is owned and managed by a group of people. What is the main advantage of a company?
A. Limited liability
B. Unlimited liability
C. Flexibility
D. Accountability
Question 15
A firm's production function is given by the equation Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm increases labor from 16 to 25, and capital from 9 to 16, what is the percentage change in output?
A. 10%
B. 20%
C. 30%
D. 40%

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