1.5 Business location

• What does the term "business location" refer to?

  The physical place of operation
• What does infrastructure include for a business location?

  Transportation and utilities
• What are examples of costs that influence business location decisions?

  Rent, taxes, wages
• The availability of skilled workers is a key factor affecting business location.


  True
• What support can governments provide to influence business location decisions?

  Tax breaks
• The availability of skilled and unskilled workers is referred to as labor
• What is the term for the availability of skilled or unskilled workers needed for a business?

  Labor supply
• The high cost of rent is a disadvantage of a city center
• What does the term "business location" refer to?

  The physical place of operation
• Why is proximity to customers a key factor in choosing a business location?

  To access the target market
• Suburban locations typically have higher customer foot traffic compared to city centers.

  False
• Steps in the decision-making process for business location:

  1️⃣ Needs assessment

  2️⃣ Site identification

  3️⃣ Cost analysis

  4️⃣ Regulatory review

  5️⃣ Community evaluation

  6️⃣ Final selection
• One key factor influencing business location is infrastructure
• The availability of skilled and unskilled workers is known as labor supply
• Government incentives can include grants or tax breaks
• Match the location factor with its description:

  Infrastructure ↔️ Transportation, utilities, communication

  Labor supply ↔️ Availability of skilled workers

  Proximity to customers ↔️ Being close to the target market

  Costs ↔️ Rent, taxes, wages
• Business location decisions only affect short-term costs.

  False
• Rural locations offer high customer foot traffic but low competition.

  False
• The choice of business location is a strategic decision that can impact costs and customer access.


  True
• Government incentives can influence a business's decision to locate in a specific area.


  True
• What is a key advantage of a city center location for a business?

  High customer foot traffic
• What is a significant disadvantage of a city center location?

  High operating costs
• The final selection of a business location should balance costs and benefits to support strategic goals.


  True
• The choice of business location is a minor decision with little impact on success.

  False
• Proximity to customers is a crucial factor for retail businesses.


  True
• Why is business location a crucial part of setting up a successful business?

  Impacts costs and access
• Being located close to the target market is referred to as proximity to customers
• Choosing the right business location is critical for overall success.


  True
• What is the term for transportation, utilities, and communication networks in business location decisions?

  Infrastructure
• Access to transportation networks and utilities is part of a business's infrastructure
• Match the business location type with its key characteristic:

  City center ↔️ High customer foot traffic

  Suburban ↔️ Moderate operating costs

  Rural ↔️ Lower rent and competition
• Arrange the business location types from highest to lowest customer foot traffic:

  1️⃣ City center

  2️⃣ Suburban

  3️⃣ Rural
• One key factor influencing business location is access to transportation, utilities, and communication infrastructure
• Match the location factor with its description:

  Labor supply ↔️ Availability of skilled workers

  Proximity to customers ↔️ Being close to the target market

  Costs ↔️ Expenses like rent and wages
• Rural business locations offer lower rent and operating costs.