Business Location Decision Objectives

What are the factors relevant to the location decision of manufacturing businesses and service businesses?

• Cost of labor and materials

• Proximity to customers

• Availability of skilled workforce

• All of the above

What factors should a business consider when deciding which country to locate operations in?

• Economic stability and market size

• Cultural differences and language

• Climate and geographical location

• All of the above

What is the role of legal controls on location decisions?

• Legal controls determine the environmental regulations that must be followed.

• Legal controls have no impact on location decisions.

• Legal controls only affect the financial aspects of location decisions.

• Legal controls are irrelevant to location decisions.

How can you recommend and justify an appropriate location for a business in given circumstances?

• By analyzing market trends and customer demographics

• By choosing a location with the lowest rent

• By selecting a location close to competitors

• By picking a location with the best view

What type of industry is involved in producing goods?

• Manufacturing business

• Service Sector

• Retailing business

• Relocation of business

Which sector provides intangible products like services?

• Manufacturing business

• Service Sector

• Retailing business

• Relocation of business

What type of business involves selling goods directly to consumers?

• Manufacturing business

• Service Sector

• Retailing business

• Relocation of business

What is the process of moving a business from one location to another called?

• Manufacturing business

• Service Sector

• Retailing business

• Relocation of business

Explain how raw material/components affect the location of a manufacturing business.

• Raw materials/components determine the proximity to suppliers, reducing transportation costs.

• Raw materials/components have no impact on the location of a manufacturing business.

• Raw materials/components only affect the marketing strategy of a manufacturing business.

• Raw materials/components are irrelevant to the location decision of a manufacturing business.

Discuss the importance of availability of labour in choosing the location for a factory.

• The availability of labor is crucial for ensuring a steady workforce and reducing operational costs.

• The availability of labor is not important in choosing a factory location.

• Labor availability only affects the initial setup of a factory and not its long-term operations.

• Labor availability is only important for factories in urban areas.