General
The geographical position of the business
What is location
Businesses that have raw materials that are less expensive and easier to transport than the finished produce are called______
Bulk-increasing businesses
Another word for comparative shopping
Clustering
Who makes the location decision
Senior leadership team
Why is the cost of land in city centres?
more demand and/or limited space
Access to telephone lines, internet services and postal services refers to ______
communication networks
Incurred costs that cannot be recovered (this can happen with the costs of location decisions)
What are Sunk costs
regions the government identifies to be suffering from relatively high unemployment and low income
Assisted areas/ enterprise zones
How does political stability affect the success of a business in a certain location?
politcal stability reduces risk
A refusal to relocate
industrial inertia
What are 2 factors that can affect the quality of labour?
local schools, socioeconomic demographics and regional unemployment rates
What aspects of infrastructure can a business look at when considering location?
transportation networks, communication networks, support networks
Name three factors that the location decision depends on
1. Nature of the business
2. Nature of the product
3. Nature of human resources
Or any other factor that makes sense
Businesses that incorporate the extraction of oil are _________
Bulk-reducing businesses
Give a specific examples of government regulations affecting location decisions
difficulty obtaining licences or permits, economic freedom, corruption, task rates etc.