Business Location

Question 1

I understand what is meant by location

Question 2

I understand the factors that influence the location decision of a business - I can name 4 factors that affect where a business decides to locate

Answer 2

Cost - Rent, utilities, and local taxes.

Proximity to Customers - Accessibility for the target market.

Labor Supply - Availability and cost of skilled workers.

Infrastructure - Transportation, communication, and utilities.

Question 3

I can evaluate the appropriate location for a variety of businesses

Answer 3

Retail business needs high foot traffic areas.

Manufacturing plants benefit from locations near raw materials and transport links.

Tech companies might prefer proximity to universities and talent pools.

Question 4

I understand why some businesses decide to locate in other countries - I can name 2 advantages and 2 disadvantages of locating overseas

Answer 4

Advantages - Access to new markets, Lower production costs

Disadvantages - Cultural and language barriers, Political and economic instability