What does the term ‘business location’ refer to?
Whether a business sells a product or a service
What type of shop a business chooses to own
A place where a business decides to operate from
What is a business' ‘market’?
The people a business aims to sell its products or services to
The people employed by a business
The people who own a business
What does ‘labour’ mean in a business?
The people a business employs or aims to employ
The suppliers of a business
What is a bulk-gaining product?
An end product that is larger than the raw materials used to produce it
An end product that is smaller than the raw materials used to produce it
A end product that requires the customer to assemble it when it arrives
What is a bulk-reducing product?
An end product that is cheap to manufacture
Which of these businesses is most likely to want to be located far away from its competitors?
Car dealership
Clothes shop
Corner shop
Do manufacturing companies always need to be located close to their market?
Yes
No
Only if the manufacturer makes products that can be easily transported
What is one benefit of e-commerce?
Everyone buys items off the internet
The business is open 24 hours a day, seven days a week
Customers can try items before buying them
Where would a law firm be best located?
Close to highly skilled workers
Closer to low-skilled workers
close to raw materials
What is one benefit of a clothes shop being located in a busy, expensive town centre?
It will be able to hire more highly skilled workers
It will cost the shop more money
The shop will be likely to get more customers