Enterprise and Business location

Question 1

What are not for profit organisations?

Answer 1

They are businesses that don’t aim to make money( profit)

Question 2

Give three examples of not for profit organisations

Answer 2

Charities
Co operatives
Social enterprise
Societies

Question 3

Name the key features of social enterprise?

Answer 3

A business with a primarily social objective
Profits are mostly reinvested for that purpose
Operate in the third sector ( neither public or private)
Attempt to change life for the better

Question 4

What do charities aim to do

Answer 4

Collecting money from individuals and spending it on a cause

Question 5

Define the term footloose

Answer 5

businesses that move from location to location basing themselves wherever best suits their needs

Question 6

Define the term footfall

Answer 6

is the number of consumers entering a store measured over a period of time

Question 7

Define economies of sale

Answer 7

occurs when a number of businesses in the same or related industries are located together

Question 8

what are some factors affecting business location choices?

Answer 8

proximity to the market
proximity to competitors
infrastructure
availability and cost of labour
government

Question 9

why might a business decide to relocate?

Answer 9

may not be able to afford their current location costs
access to international markets
tax advantages
cheaper land/ labour