Question 1

Choosing a location in which many other businesses have failed can create a negative image, even for a "new" business.

Accepted Answer

A) True 
 B)False  True

Question 2

The central business district (CBD)________.

Accepted Answer

A) is the traditional center of town 
B) in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers, but are now going through revitalization programs 
C) attracts customers from the entire trading area of the city 
D) All of the above 
A) is the traditional center of town 
B) in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers, but are now going through revitalization programs 
C) attracts customers from the entire trading area of the city 
D) All of the above D

Question 3

Geographic Information Systems (GIS)are powerful software programs that allow entrepreneurs to pinpoint the ideal location for their businesses.

Accepted Answer

A) True 
 B)False  True

Question 4

By collecting a wealth of data on possible locations, entrepreneurs will find that the location decision is made for them.

Accepted Answer

A) True 
 B)False

Question 5

Proximity to needed raw materials is critically important for a service firm.

Accepted Answer

A) True 
 B)False

Question 6

Because they are centrally located, central business district locations offer business owners the ability to attract customers from the entire trading area of the city.

Accepted Answer

A) True 
 B)False

Question 7

Reilly's Law of Retail Gravitation ________.

Accepted Answer

A) uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers 
B) predicts the declining fate of brick-and-mortar retail to online shopping 
C) is based on downward trending of established locations 
D) uses the analogy of contagious diseases and attracting customers 
A) uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers 
B) predicts the declining fate of brick-and-mortar retail to online shopping 
C) is based on downward trending of established locations 
D) uses the analogy of contagious diseases and attracting customers

Question 8

What are the advantages and disadvantages of the restaurant's current location?

Accepted Answer

Advantages Disadvantages
- Well known in

Question 9

Identify and briefly discuss the eight factors an entrepreneur should consider when selecting the city in which to locate her business.

Accepted Answer

1. Population Trends
In addition to demo

Question 10

A community shopping center contains from three to twelve stores and serves a population that lives within a 10-minute drive.

Accepted Answer

A) True 
 B)False

Question 11

Typically located near affluent residential neighborhoods where their target customers live, ________ centers are designed to look less like shopping centers and malls and more like the busy streets in the central business districts that once existed in towns and cites.

Accepted Answer

A) neighborhood 
B) power 
C) lifestyle 
D) community shopping 
A) neighborhood 
B) power 
C) lifestyle 
D) community shopping

Question 12

Which of the following characteristics for selecting a city would be of greatest interest to a retail store selling fine china and collectibles?

Accepted Answer

A) Public services 
B) Transportation 
C) Zoning 
D) Population characteristics 
A) Public services 
B) Transportation 
C) Zoning 
D) Population characteristics

Question 13

The Index of Retail Saturation (IRS)is a measure of the potential sales per square foot of store space for a given product in a specific trading area.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is/are disadvantage(s)of locating in a central business district?

Accepted Answer

A) Intense competition 
B) High rental rates 
C) Traffic congestion and inadequate parking facilities 
D) All of the above 
A) Intense competition 
B) High rental rates 
C) Traffic congestion and inadequate parking facilities 
D) All of the above

Question 15

Reilly's Law of Retail Gravity uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers.

Accepted Answer

A) True 
 B)False

Question 16

List and explain the main location criteria for retail and service businesses.

Accepted Answer

Trade Area Size
The region from which th

Question 17

A location in a city offering a high quality of life can be attractive to the entrepreneur and may make ________ easier.

Accepted Answer

A) financing 
B) recruiting employees 
C) resolving zoning issues 
D) access to a trading area 
A) financing 
B) recruiting employees 
C) resolving zoning issues 
D) access to a trading area

Question 18

Identify and describe the goal/purpose of the three types of manufacturing layouts.

Accepted Answer

Product Layouts
Consist of an unbroken f

Question 19

Identify and explain five of the eight criteria a small business owner should consider when selecting the state in which to locate her/his business.

Accepted Answer

1. Proximity to Markets
Locating close t

Question 20

Shopping centers are always a wise location for a small business owner to choose.

Accepted Answer

A) True 
 B)False

Choosing a location in which many other businesses have failed can create a negative image, even for a "new" business.

The central business district (CBD)________.

Geographic Information Systems (GIS)are powerful software programs that allow entrepreneurs to pinpoint the ideal location for their businesses.

By collecting a wealth of data on possible locations, entrepreneurs will find that the location decision is made for them.

Proximity to needed raw materials is critically important for a service firm.

Because they are centrally located, central business district locations offer business owners the ability to attract customers from the entire trading area of the city.

Reilly's Law of Retail Gravitation ________.

What are the advantages and disadvantages of the restaurant's current location?

Identify and briefly discuss the eight factors an entrepreneur should consider when selecting the city in which to locate her business.

A community shopping center contains from three to twelve stores and serves a population that lives within a 10-minute drive.

Typically located near affluent residential neighborhoods where their target customers live, ________ centers are designed to look less like shopping centers and malls and more like the busy streets in the central business districts that once existed in towns and cites.

Which of the following characteristics for selecting a city would be of greatest interest to a retail store selling fine china and collectibles?

The Index of Retail Saturation (IRS)is a measure of the potential sales per square foot of store space for a given product in a specific trading area.

Which of the following is/are disadvantage(s)of locating in a central business district?

Reilly's Law of Retail Gravity uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers.

List and explain the main location criteria for retail and service businesses.

A location in a city offering a high quality of life can be attractive to the entrepreneur and may make ________ easier.

Identify and describe the goal/purpose of the three types of manufacturing layouts.

Identify and explain five of the eight criteria a small business owner should consider when selecting the state in which to locate her/his business.

Shopping centers are always a wise location for a small business owner to choose.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters

Exam 14: Choosing the Right Location and Layout

Choosing a location in which many other businesses have failed can create a negative image, even for a "new" business.

The central business district (CBD)________.

Geographic Information Systems (GIS)are powerful software programs that allow entrepreneurs to pinpoint the ideal location for their businesses.

By collecting a wealth of data on possible locations, entrepreneurs will find that the location decision is made for them.

Proximity to needed raw materials is critically important for a service firm.

Because they are centrally located, central business district locations offer business owners the ability to attract customers from the entire trading area of the city.

Reilly's Law of Retail Gravitation ________.

What are the advantages and disadvantages of the restaurant's current location?

Identify and briefly discuss the eight factors an entrepreneur should consider when selecting the city in which to locate her business.

A community shopping center contains from three to twelve stores and serves a population that lives within a 10-minute drive.

Typically located near affluent residential neighborhoods where their target customers live, ________ centers are designed to look less like shopping centers and malls and more like the busy streets in the central business districts that once existed in towns and cites.

Which of the following characteristics for selecting a city would be of greatest interest to a retail store selling fine china and collectibles?

The Index of Retail Saturation (IRS)is a measure of the potential sales per square foot of store space for a given product in a specific trading area.

Which of the following is/are disadvantage(s)of locating in a central business district?

Reilly's Law of Retail Gravity uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers.

List and explain the main location criteria for retail and service businesses.

A location in a city offering a high quality of life can be attractive to the entrepreneur and may make ________ easier.

Identify and describe the goal/purpose of the three types of manufacturing layouts.

Identify and explain five of the eight criteria a small business owner should consider when selecting the state in which to locate her/his business.

Shopping centers are always a wise location for a small business owner to choose.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters