Business Location Flashcards
1
Q
What are the Factors a business must consider when locating
A
- Proximity to market
- Proximity to Labour
- Proximity to Competitors
- Proximity to Raw material
2
Q
What is Proximity to Labour
A
It is the potential employees that can be hired in the area
3
Q
What is Proximity to Competitors
A
It is the potential competition in a certain area- mostly bad unless high in demand
4
Q
What is proximity to the market
A
Ensure potential customers in the area (nearby)
5
Q
What is the proximity to raw materials
A
Enough raw materials available close to the business to produce the products quicker
6
Q
What is E-Commerce
A
Buying and Selling online
7
Q
What is an advantage of E-Commerce
A
allows businesses to not have an expensive retail
8
Q
What is a Disadvantage of E-commerce
A
Increased competition all around the world
