business location Flashcards
1
Q
what is business location
A
Business location refers to the geographical place where a business chooses to operate, affecting costs, sales, and access to resources.
2
Q
What factors largely determine the location of new and existing businesses?
A
- access to customers
- access to raw materials
- costs
3
Q
why is cost a key factor for business location?
A
- limited capital may restrict new businesses
- purchasing/leasing property
- refurbishment
- labour
4
Q
how can the market influence business location
A
- near to customers to increases accessibility
- need for foot traffic if only physical store
5
Q
what role does labour play in business location
A
- labour costs
- skill level
- access to labour
6
Q
what is a footloose business
A
a business that moves location freely based on labour availability and trade patterns
7
Q
What factors influence international business location decisions?
A
- economies of scale
- trade tariffs
- wages
