Unit 1.4.2

When deciding on where to locate a business, some of the key factors entrepreneurs will consider is its proximity to?

• Market

• People

• Technology

• Labour

Proximity to _______ simply means how close a business is located to its customers.

• Competitors

• Labour

• Market

• Materials

Where the finished good is larger and/or weighs more than the raw materials used to produce it, this is known as a ____ ________ product.

• bulk-gaining

• bulk-reducing

Business which sell what are known as ‘convenience goods’ are more likely to want to locate themselves ____ ___ their competitors.

• Away from

• Close to

The internet has changed the business world for good and provides businesses with some key benefits when it comes to location decisions, these include?

• Access to a larger market

• The ability to operate 24/7

• Higher operating costs

• Lower operating costs

Proximity to ______ simply means how close a business is located to the people who have the capabilities and skillset to work for them.

• Competitors

• Labour

• Market

• Materials

Proximity to _________ simply means how close a business is located to the resources it requires to produce its products or provide its services.

• Competitors

• Labour

• Market

• Materials

Businesses which sell ________ _____ are more likely to want to be located close to their competitors as this increases their footfall and their chances of making a sale.

• Convenience goods

• Shopping goods

If a business is researching the demographics of an area to see if it matches their target market before deciding whether to locate there are focusing on proximity to?

• Competitors

• Labour

• Market

• Materials

If a business chooses to locate in an area which is associated with having highly skilled workers in their industry, they are prioritising proximity to?

• Market

• Labour

• Materials

• Competitors