Business Ownership Flashcards
(15 cards)
What is the main factor that influences the location of a business?
Proximity to customers and suppliers.
True or False: Geographic location has no impact on business operations.
False.
Fill in the blank: The _____ of a location can affect transportation costs.
Accessibility.
Which factor is often considered when choosing a location for a manufacturing facility?
Availability of raw materials.
Multiple Choice: Which of the following is NOT a factor influencing location? A) Labor availability B) Climate C) Product color D) Infrastructure
C) Product color.
What role does government policy play in location decisions?
Government policy can provide incentives or restrictions that affect location choices.
True or False: Cultural factors have no relevance in location selection.
False.
What is the significance of market access in location decisions?
Market access determines the ease of reaching potential customers.
Fill in the blank: The _____ of a location can influence the cost of doing business.
Tax environment.
Which factor is critical for technology companies when choosing a location?
Talent pool.
Multiple Choice: Which of the following is a physical factor influencing location? A) Market demand B) Competition C) Climate D) Consumer preferences
C) Climate.
What impact does competition have on location choices?
High competition can deter businesses from entering a location or drive them to differentiate.
True or False: The cost of real estate is irrelevant to location decisions.
False.
What is meant by ‘infrastructure’ in the context of location factors?
Infrastructure refers to the basic physical systems such as transportation, utilities, and communication.
Fill in the blank: A location with a strong _____ can attract businesses seeking skilled labor.
Educational system.
