Business Location Decision Quiz

What is the primary reason a business should carefully choose its location?

• To minimize employee travel time

• To reduce rent costs

• To avoid competition

• To maximize positive impact on the business

Why might a fish-and-chip shop prioritize proximity to its market?

• To avoid competitors

• To reduce transportation costs

• To be near suppliers

• To ensure customers can easily access the shop

Why do tech companies like Google choose locations like Silicon Valley?

• To avoid competition

• To reduce rent costs

• To access high-quality labor

• To be close to their customers

For which type of business is proximity to raw materials most crucial?

• E-commerce businesses

• Manufacturers

• Service providers

• Retail businesses

How does the nature of a retail business influence its location choice?

• It needs to be close to suppliers

• It should be located in industrial areas

• It should avoid busy areas

• It requires proximity to customers

What is a key consideration for service businesses when choosing a location?

• Proximity to customers

• Proximity to raw materials

• Proximity to competitors

• Proximity to transport networks

Why might a manufacturer prioritize proximity to raw materials over customers?

• To access a larger market

• To avoid competition

• To minimize transportation and storage costs

• To reduce labor costs

How has the Internet changed the importance of physical location for businesses?

• It has made proximity to competitors crucial

• It has increased transportation costs

• It has made physical locations more important

• It has reduced the need for physical locations

What is the 'bricks and clicks' approach?

• Avoiding online sales

• Focusing solely on physical stores

• Having both an online and physical presence

• Operating only online

What is the benefit of having an online presence for a business?

• Higher rent costs

• 24/7 operation capability

• Increased competition

• Limited market access