Question 1

The primary variable(s)that influence(s)the scope of a trading area is/are the ________.

Accepted Answer

A) character of the transportation network 
B) nature of competing businesses 
C) type and size of the business operation 
D) racial and political barriers in the local community 
A) character of the transportation network 
B) nature of competing businesses 
C) type and size of the business operation 
D) racial and political barriers in the local community

Question 2

The first level of the location decision is the selection of a particular region of the country.

Accepted Answer

A) True 
 B)False

Question 3

For many entrepreneurs, quality of life is one of the key determinants of their choice of locale.

Accepted Answer

A) True 
 B)False

Question 4

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling her/his kind of product in the trading area.

Accepted Answer

A) True 
 B)False

Question 5

Briefly explain the fundamental considerations in evaluating an existing building as a location. Utilize the explanation of zoning laws, ergonomics and the Americans with Disabilities Act in your explanation.

Accepted Answer

Zoning is a system that divides a city o

Question 6

The first phase in selecting a location is determining what regions of the country are experiencing substantial growth.

Accepted Answer

A) True 
 B)False

Question 7

A labor force that has technical training would be most important to a ________.

Accepted Answer

A) clothing store 
B) restaurant 
C) skiing equipment specialty store 
D) computer company 
A) clothing store 
B) restaurant 
C) skiing equipment specialty store 
D) computer company

Question 8

The typical neighborhood shopping center contains from 3 to 12 stores and serves a population that lives within a 10-minute drive.

Accepted Answer

A) True 
 B)False

Question 9

The region from which a business can expect to draw its customers over a reasonable time span is called its ________.

Accepted Answer

A) enterprise zone 
B) zoning area 
C) trading area 
D) retail draw 
A) enterprise zone 
B) zoning area 
C) trading area 
D) retail draw

Question 10

Which of the following is an advantage of locating in a central business district?

Accepted Answer

A) Low rent 
B) Easy and abundant parking 
C) The ability to attract customers from the entire trading area 
D) Moderate to low levels of competition 
A) Low rent 
B) Easy and abundant parking 
C) The ability to attract customers from the entire trading area 
D) Moderate to low levels of competition

Question 11

A Geographic Information System (GIS)________.

Accepted Answer

A) is a software package combining the ability to draw detailed maps with the power to search through databases 
B) helps entrepreneurs discover important trends and characteristics in the population that otherwise might go unnoticed 
C) can be an incredibly powerful tool for determining the ideal location based on specific criteria the entrepreneur establishes 
D) All of the above 
A) is a software package combining the ability to draw detailed maps with the power to search through databases 
B) helps entrepreneurs discover important trends and characteristics in the population that otherwise might go unnoticed 
C) can be an incredibly powerful tool for determining the ideal location based on specific criteria the entrepreneur establishes 
D) All of the above

Question 12

One element of the location decision common to all businesses is the need to locate where customers want to do business.

Accepted Answer

A) True 
 B)False

Question 13

Increased traffic flow can be beneficial to similar businesses located in close proximity to one another (e.g., auto dealers, clothing retailers, and antique shops).

Accepted Answer

A) True 
 B)False

Question 14

The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within a 20- to 40-minute driving time.

Accepted Answer

A) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district 
A) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district

Question 15

________, published annually, matches population demographics with lifestyle interests.

Accepted Answer

A) The Lifestyle Market Analyst 
B) The Commercial Atlas and Marketing Guide 
C) The Zip Code Atlas and Market Planner 
D) A Researcher's Guide to the 1990 Census 
A) The Lifestyle Market Analyst 
B) The Commercial Atlas and Marketing Guide 
C) The Zip Code Atlas and Market Planner 
D) A Researcher's Guide to the 1990 Census

Question 16

A ________ contains from 12 to 50 stores and serves a population of 40,000 to 150,000 people.

Accepted Answer

A) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district 
A) neighborhood shopping center 
B) community shopping center 
C) regional shopping mall 
D) central business district

Question 17

Zoning is a system that divides a city or country into small cells or districts to control the use of land, buildings, and sites.

Accepted Answer

A) True 
 B)False

Question 18

When choosing a location, a small business owner should match the characteristics of the labor force her/his company requires with the characteristics of an area's available labor pool.

Accepted Answer

A) True 
 B)False

Question 19

What is the state's overall attitude toward your kind of business? Has it passed laws that impose restrictions on the way a company can operate? Does the state offer small business support programs of financial assistance to entrepreneurs? These questions help an entrepreneur to assess the overall ________.

Accepted Answer

A) population trends 
B) proximity to markets 
C) labor supply 
D) business climate 
A) population trends 
B) proximity to markets 
C) labor supply 
D) business climate

Question 20

The Zip Code Atlas and Market Planner provides detailed information on sales, spendable income, etc., by census region, county, and city.

Accepted Answer

A) True 
 B)False

The primary variable(s)that influence(s)the scope of a trading area is/are the ________.

The first level of the location decision is the selection of a particular region of the country.

For many entrepreneurs, quality of life is one of the key determinants of their choice of locale.

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling her/his kind of product in the trading area.

Briefly explain the fundamental considerations in evaluating an existing building as a location. Utilize the explanation of zoning laws, ergonomics and the Americans with Disabilities Act in your explanation.

The first phase in selecting a location is determining what regions of the country are experiencing substantial growth.

A labor force that has technical training would be most important to a ________.

The typical neighborhood shopping center contains from 3 to 12 stores and serves a population that lives within a 10-minute drive.

The region from which a business can expect to draw its customers over a reasonable time span is called its ________.

Which of the following is an advantage of locating in a central business district?

A Geographic Information System (GIS)________.

One element of the location decision common to all businesses is the need to locate where customers want to do business.

Increased traffic flow can be beneficial to similar businesses located in close proximity to one another (e.g., auto dealers, clothing retailers, and antique shops).

The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within a 20- to 40-minute driving time.

________, published annually, matches population demographics with lifestyle interests.

A ________ contains from 12 to 50 stores and serves a population of 40,000 to 150,000 people.

Zoning is a system that divides a city or country into small cells or districts to control the use of land, buildings, and sites.

When choosing a location, a small business owner should match the characteristics of the labor force her/his company requires with the characteristics of an area's available labor pool.

The Zip Code Atlas and Market Planner provides detailed information on sales, spendable income, etc., by census region, county, and city.

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

The primary variable(s)that influence(s)the scope of a trading area is/are the ________.

The first level of the location decision is the selection of a particular region of the country.

For many entrepreneurs, quality of life is one of the key determinants of their choice of locale.

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling her/his kind of product in the trading area.

Briefly explain the fundamental considerations in evaluating an existing building as a location. Utilize the explanation of zoning laws, ergonomics and the Americans with Disabilities Act in your explanation.

The first phase in selecting a location is determining what regions of the country are experiencing substantial growth.

A labor force that has technical training would be most important to a ________.

The typical neighborhood shopping center contains from 3 to 12 stores and serves a population that lives within a 10-minute drive.

The region from which a business can expect to draw its customers over a reasonable time span is called its ________.

Which of the following is an advantage of locating in a central business district?

A Geographic Information System (GIS)________.

One element of the location decision common to all businesses is the need to locate where customers want to do business.

Increased traffic flow can be beneficial to similar businesses located in close proximity to one another (e.g., auto dealers, clothing retailers, and antique shops).

The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within a 20- to 40-minute driving time.

________, published annually, matches population demographics with lifestyle interests.

A ________ contains from 12 to 50 stores and serves a population of 40,000 to 150,000 people.

Zoning is a system that divides a city or country into small cells or districts to control the use of land, buildings, and sites.

When choosing a location, a small business owner should match the characteristics of the labor force her/his company requires with the characteristics of an area's available labor pool.

The Zip Code Atlas and Market Planner provides detailed information on sales, spendable income, etc., by census region, county, and city.

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