Year Online Homework 1

How is a business 'location' best described?

• The place where customers buy products

• The place where a business sites its operations

• The place where suppliers send components

What can location decisions have a big impact on?

• Costs

• Revenues

• Costs and Revenues

Which of these is NOT an advantage of an efficient transport network?

• It enables staff to get to work easily

• It allows supplies to be brought in from far afield

• Increased time getting finished products moved to market

Which of these is a challenge a business faces when setting up a business overseas?

• Greater control of your business activities overseas

• Cultural and language barriers

• Can provide a more personalised service to customers based locally

Which is an example of infrastructure?

• Staff

• Markets

• Roads

What happens when a government gives a business a location grant?

• It is repaid

• It is repaid with interest

• It does not need to be repaid

Which of the following is an example of relocation?

• Redundancies

• Moving production overseas

• Extra investment in new machines

What is the most likely reason for relocating a factory overseas?

• Reduce manufactoring costs

• Reduce transport costs

• To act ethically

What is a new shop in a city centre NOT likely to benefit from?

• Low rents

• An established infrastructure

• Availability of a specialist support services

Where are restaurants most likely to locate?

• In areas that are most convenient for owners

• In areas that are most convenient for suppliers

• In an area that is most convenient for customers