Entrepreneurship Chapter 8

__________________ shopping centers are small shopping centers that serve a certain neighborhood.

• Super-regional

• Regional

• Neighborhood

• Mom and Pop

Community shopping centers usually have at least 4 or 5 anchor stores.

• True

• False

_________________ stores depend on drive-by traffic and must have plenty of parking, good signs and effective lighting to attract customers.

• Anchor

• Enterprise Zone

• Stand-Alone

• Warehouse

Your business trade area usually covers ________ miles in every direction from your business location.

• 5

• 15

• 20

• 25

You must know your business inventory _________________ point to avoid running out of product to sell.

• breakeven

• re-order

• disorder

• analysis

Stand-alone stores can be good locations for businesses because _________________________ .

• they do not need to advertise heavily

• there are no anchor stores to distract customers

• there is no competition next door

• they attract walk-in customers

All of the following are disadvantages of locating a business in a downtown area EXCEPT _________________________ .

• a lack of parking spaces

• there are not many customers in the evenings

• people's homes are a long way away

• there are lots of attractions downtown

Home-based businesses are ideal for small companies _____________________________ .

• if customers do not need to visit your location

• all the other answers are correct

• if zoning laws allow you to legally operate your business in your home

• because many costs are reduced or eliminated

A goal of the layout of a retail business should be to _______________________________ .

• make sure all office supplies are easy to find

• place the cash register at the entrance

• design window displays that are drastically different from the competition

• make the customers' experience pleasant so they return

An estimate of how much you will pay for merchandise from a supplier (vendor) is ______________________ .

• a discount

• a quote

• an invoice

• the balance due