Location of a Business Flashcards
1
Q
What is location of a business?
A
This involves being close to the market, building on sites where costs are low or choosing an area where labor is plentiful and wages are cheap.
2
Q
What is industrial inertia?
A
Businesses stay where they were built because they are used to being there and customers know the business for being there.
3
Q
What are the factors that determine location of a business?
A
- geographical factor
- raw materials and supplies
- transport
4
Q
Geographical factor.
A
Is there good land, how much, water supply.
5
Q
Raw materials and supplies.
A
Proximity to raw materials, ensure you have a good transportation line.
6
Q
Transport.
A
Proximity to good transport facilities.
