3.1.5 location Flashcards
1
Q
What are the 5 main factors influencing location
A
- Raw materials
- labor supply
- competition
- closeness to market
- costs of rent ect
2
Q
Explain location of raw materials
A
Closer a firm is to raw materials the cheaper transport costs
3
Q
Explain labour supply
A
High unemployment means wages can be kept low
4
Q
Explain competition
A
Some businesses may move closer to competitors to attract similar customers so they have a choice
5
Q
Explain location of the market
A
