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Chapter 8: Locate & Set Up Your Business

Total questions: 96

Worksheet time: 48mins

Name
Class
Date
1.

Which type of location is typically found in the center of a city?

a)

Stand-alone store

b)

Downtown area

c)

Warehouse

d)

Industrial park

2.

Neighborhood shopping centers usually feature:

a)

Major department stores

b)

Convenience stores & small shops

c)

Wholesale vendors

d)

Manufacturing plants

3.

A large area with major department stores and many specialty shops is called a:

a)

Regional shopping center

b)

Stand-alone store

c)

Warehouse

d)

Industrial zone

4.

Stand-alone stores are typically:

a)

Inside malls

b)

Part of strip centers

c)

Located on their own property

d)

Virtual businesses only

5.

Warehouses are often used for:

a)

Product storage and distribution

b)

Customer retail shopping

c)

Online marketing

d)

Home-based crafts

6.

A business located in a zoned industrial section of land is in a(n):

a)

Enterprise zone

b)

Regional mall

c)

Retail plaza

d)

Industrial park

7.

Enterprise zones help areas suffering from:

a)

Overcrowded retail

b)

High employment

c)

Lack of employment opportunities

d)

Too many industrial parks

8.

A business operated from the owner’s residence is a:

a)

Virtual business

b)

Home-based business

c)

Franchise

d)

Stand-alone store

9.

E-commerce refers to:

a)

Shopping at local malls

b)

Buying and selling online

c)

Creating retail displays

d)

Customer service training

10.

Which is an advantage of an online business?

a)

Security breaches

b)

Internet downtime

c)

Large customer base

d)

High rent costs

11.

Which is a disadvantage of virtual businesses?

a)

Easy setup

b)

Cost savings

c)

No time restrictions

d)

Security breaches

12.

Which online precaution is recommended?

a)

Use free web space

b)

Leave outdated info

c)

Use slow loading features

d)

Don’t use free web hosting

13.

The area where most customers come from is called the:

a)

Revenue zone

b)

Traffic lane

c)

Trade area

d)

Service radius

14.

The first step in choosing a site is to:

a)

Paint the exterior

b)

Evaluate the location

c)

Identify the trade area

d)

Choose vendors

15.

A tenant is a person who:

a)

Owns the building

b)

Pays rent to occupy space

c)

Maintains the property

d)

Sells commercial leases

16.

A landlord is someone who:

a)

Rents space from others

b)

Owns and rents out buildings

c)

Sells products online

d)

Audits tenant financials

17.

A gross lease means the landlord pays:

a)

Only rent

b)

Rent and utilities

c)

All property expenses

d)

Only taxes

18.

In a net lease, the tenant pays:

a)

Rent, taxes, and other expenses

b)

Only base rent

c)

Nothing

d)

Only insurance

19.

A percentage lease means the tenant pays:

a)

Rent plus percent of revenue

b)

Only rent

c)

Only utilities

d)

A flat monthly payment

20.

Visual merchandising refers to:

a)

Online marketing

b)

Displaying products attractively

c)

Organizing payroll

d)

Hiring employees

21.

Retail layouts focus on:

a)

Machine placement

b)

Customer flow and displays

c)

Employee offices

d)

Industrial zoning

22.

Service business layouts focus on:

a)

Heavy machinery

b)

Assembly lines

c)

Warehouse racking

d)

Efficiency and customer comfort

23.

Inventory refers to:

a)

Customer data

b)

Products sold or used to make products

c)

Store decorations

d)

Profits earned

24.

Vendors are companies that:

a)

Buy products from customers

b)

Sell products/services to businesses

c)

Inspect equipment

d)

Lease vehicles

25.

The level at which new stock should be ordered is the:

a)

Trade point

b)

Revenue mark

c)

Reorder point

d)

Inventory cap

26.

Which business type benefits most from a regional mall setting?

a)

Retail

b)

Industrial

c)

Wholesale

d)

Manufacturing

27.

A business with high foot traffic usually prefers:

a)

Home-based locations

b)

Enterprise zones

c)

Industrial parks

d)

Downtown or shopping centers

28.

Online businesses reduce costs mainly because:

a)

They avoid product purchases

b)

They require no equipment

c)

They don’t pay taxes

d)

They don’t pay rent

29.

Inventory for an ongoing business is purchased using:

a)

Historical sales

b)

Customer surveys

c)

Government reports

d)

Vendor donations

30.

A retail floor plan is designed to:

a)

Increase taxes

b)

Increase product visibility

c)

Reduce customers

d)

Confuse shoppers

31.

Industrial layouts focus on:

a)

Efficiency & safety

b)

Customer displays

c)

Online checkout

d)

Window decorations

32.

Leasing space is typically:

a)

Less flexible

b)

More expensive upfront

c)

Less expensive upfront

d)

Only for warehouses

33.

Buying commercial property means:

a)

Lower long-term investment

b)

High initial costs

c)

No maintenance responsibility

d)

You cannot sell the property

34.

Warehouses are ideal for:

a)

Retail boutiques

b)

Manufacturing or storage

c)

Restaurants

d)

Online service desks

35.

Community shopping centers are larger than:

a)

Warehouses

b)

Neighborhood centers

c)

Super-regional centers

d)

Downtown districts

36.

Super-regional centers include:

a)

Grocery stores only

b)

A few small shops

c)

Hundreds of stores + entertainment

d)

Mostly warehouses

37.

Industrial businesses need:

a)

High foot traffic

b)

Free web hosting

c)

Mall locations

d)

Access to transportation routes

38.

A home-based business advantage is:

a)

Lower overhead

b)

Industrial zoning

c)

Increased walk-in customers

d)

Higher rent

39.

A disadvantage of home-based businesses:

a)

High warehouse costs

b)

Zoning restrictions

c)

Too many customers

d)

Access to malls

40.

E-commerce allows:

a)

24/7 shopping

b)

Only local sales

c)

No competition

d)

No shipping required

41.

A recommended online practice is:

a)

Slow page loading

b)

Free hosting

c)

Outdated information

d)

Creative web design

42.

Physical layout design begins with a:

a)
Vendor meeting
b)

Lease negotiation

c)

Marketing Plan

d)

Floor Plan

43.

Evaluating a location includes examining:

a)

Weather

b)

Customer traffic

c)

Website views

d)

Employee birthdays

44.

Vendors should be chosen based on:

a)

Price, quality, and reliability

b)

Only price

c)

Only speed

d)

Social media followers

45.

Purchasing inventory for a startup involves predicting:

a)

Profit margin only

b)

Zoning laws

c)

Initial customer demand

d)

Employee wages

46.

Retailers use visual merchandising to:

a)

Monitor employees

b)

Encourage product sales

c)

Increase rent

d)

Build warehouses

47.

Percentage leases are common in:

a)

Malls

b)

Industrial parks

c)

Home-based businesses

d)

Warehouses

48.

A nonretail business often chooses location based on:

a)

Foot traffic

b)

Window display space

c)

Production needs

d)

Mall availability

49.

Inventory includes:

a)

Office decorations

b)

Marketing posters

c)

Employee uniforms

d)

Products sold or used to make products

50.

The purpose of evaluating proposals from suppliers is to:

a)

Raise prices

b)

Compare cost and quality

c)

Avoid inventory

51.

E-commerce involves selling products online.

a)

True

b)

False

52.

A trade area is where employees live.

a)

True

b)

False

53.

Super-regional centers are the smallest type of shopping center.

a)

True

b)

False

54.

Home-based businesses always require special zoning.

a)

True

b)

False

55.

Industrial parks are zoned strictly for industrial companies.

a)

True

b)

False

56.

A virtual business has no time restrictions for shopping.

a)

True

b)

False

57.

Security breaches are a risk of online businesses.

a)

True

b)

False

58.

A gross lease requires the tenant to pay all building expenses.

a)

True

b)

False

59.

Layout design begins with creating a floor plan.

a)

True

b)

False

60.

Vendors are companies that supply products to businesses.

a)

True

b)

False

61.

A reorder point tells a company when to buy more inventory.

a)

True

b)

False

62.

Internet downtime is an advantage of online businesses.

a)

True

b)

False

63.

Physical location does not matter for retail businesses.

a)

True

b)

False

64.

Enterprise zones help areas with low employment opportunities.

a)

True

b)

False

65.

A net lease requires the landlord to pay all expenses.

a)

True

b)

False

66.

A percentage lease includes a base rent and percent of revenue.

a)

True

b)

False

67.

Visual merchandising helps boost sales through displays.

a)

True

b)

False

68.

Retail layouts do not affect customer behavior.

a)

True

b)

False

69.

E-commerce offers cost savings compared to retail stores.

a)

True

b)

False

70.

Selecting a business site does not require evaluating the location.

a)

True

b)

False

71.

Virtual businesses require no technical expertise.

a)

True

b)

False

72.

Home-based businesses can reduce overhead costs.

a)

True

b)

False

73.

Industrial layouts focus heavily on machinery and workflow.

a)

True

b)

False

74.

Online businesses have smaller customer bases than local stores.

a)

True

b)

False

75.

Outdated website information can hurt business credibility.

a)

True

b)

False

76.

The geographic area from which a business draws its customers is the ____________.

a)

trade area

b)

market share

c)

demographic zone

d)

sales territory

77.

Buying and selling online is known as ____________.

a)

E-commerce

b)

E-learning

c)

E-governance

d)

E-banking

78.

A person who rents business space is called a ____________.

a)

Tenant

b)

Landlord

c)

Broker

d)

Owner

79.

A ____________ owns and rents out the building.

a)

Landlord

b)

Tenant

c)

Manager

d)

Builder

80.

A ____________ includes rent and all property expenses paid by the landlord.

a)

gross lease

b)

net lease

c)

percentage lease

d)

ground lease

81.

A lease where the tenant pays rent plus taxes is a ____________. (Use the word bank above to fill in the blank.)

a)

net lease

b)

gross lease

c)

percentage lease

d)

ground lease

82.

A ____________ includes base rent plus a percent of sales revenue.

a)

percentage lease

b)

gross lease

c)

net lease

d)

fixed lease

83.

Combining products and displays to encourage sales is ____________.

a)

visual merchandising

b)

inventory management

c)

customer service

d)

pricing strategy

84.

Products a business sells or uses to make products are called ____________.

a)

inventory

b)

liabilities

c)

revenue

d)

assets

85.

Vendors are companies that ____________ to a business.

a)

sell products or services

b)

buy products or services

c)

manage employees

d)

provide loans

86.

The point where new stock should be ordered is the ____________.

a)

reorder point

b)

stock level

c)

inventory turnover

d)

lead time

87.

Areas suffering from low employment opportunities are called ____________.

a)

enterprise zones

b)

urban centers

c)

industrial parks

d)

suburban districts

88.

A section of land zoned only for industrial businesses is an ____________.

a)

industrial park

b)

residential area

c)

shopping mall

d)

agricultural zone

89.

A business operated at the owner’s residence is a ____________.

a)

home-based business

b)

franchise business

c)

retail business

d)

online business

90.

A website must load quickly to avoid losing ____________.

a)

Customers

b)

server space

c)

domain name

d)

advertisements

91.

Evaluating a location considers factors like ____________.

a)

Traffic Flow

b)

color scheme

c)

employee uniforms

d)

menu design

92.

A business layout begins with a ____________. (Use the word bank above to fill in the blank.)

a)

floor plan

b)

blueprint

c)

budget

d)

menu

93.

Online businesses must avoid using ____________. (Use the word bank above to fill in the blank.)

a)

free web space

b)

secure payment gateways

c)

professional web design

d)

customer support services

94.

Large shopping complexes with many stores are ____________. (Use the word bank above to fill in the blank.)

a)

regional centers

b)

corner shops

c)

local markets

d)

street vendors

95.

Organizing machinery for production is part of a ____________.

a)

manufacturing layout

b)

marketing strategy

c)

financial plan

d)

human resource policy

96.

Match the term to the correct definition:

a)

Net lease

1.

Rent + taxes + other expenses

b)

Vendor

2.

Company that sells products to another business

c)

Percentage lease

3.

Rent plus percent of sales

d)

Gross lease

4.

All property expenses paid by landlord

e)

Inventory

5.

Products a business sells or uses to produce goods

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