Question 1

Which of the following do incubators offer their tenants?

Accepted Answer

A)  Flexible rental space at discounted market rates 
B)  Larger trading areas 
C)  Exemptions from zoning regulations 
D)  Lower, or an exemption from, state and city taxes 
A)  Flexible rental space at discounted market rates 
B)  Larger trading areas 
C)  Exemptions from zoning regulations 
D)  Lower, or an exemption from, state and city taxes

Question 2

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 3

Shopping malls typically average ________ parking spaces per 1,000 square feet of shopping while a typical central business district offers ________ spaces per 1,000 square feet of shopping space.

Accepted Answer

A)  20; 1 
B)  3; 6 
C)  5; 3.5 
D)  3; 8 
A)  20; 1 
B)  3; 6 
C)  5; 3.5 
D)  3; 8

Question 4

One direct way to lower annual operating costs is to locate in a state where:

Accepted Answer

A)  there is an attractive business climate. 
B)  the labor market is highly competitive. 
C)  taxes and regulatory costs are lowest. 
D)  the key markets are relatively accessible. 
A)  there is an attractive business climate. 
B)  the labor market is highly competitive. 
C)  taxes and regulatory costs are lowest. 
D)  the key markets are relatively accessible.

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

Accepted Answer

A) True 
 B)False

Question 8

The U.S. Census departments "TIGER" file is a computerized map of the entire United States that gives entrepreneurs the power to pinpoint existing and potential customers.

Accepted Answer

A) True 
 B)False

Question 9

Observing customer behavior in a retail store can help a business owner identify "hot spots" where merchandise sells briskly and "cold spots" where it may sit indefinitely.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

1. Proximity to markets-Locating close t

Question 11

The "friendliness" of the overall business environment is an important consideration in location selection and information is available to offer objective insight for this assessment.

Accepted Answer

A) True 
 B)False

Question 12

Environmentally friendly design is no longer affordable or justified.

Accepted Answer

A) True 
 B)False

Question 13

Two important criteria for selecting and designing a production layout are:

Accepted Answer

A)  worker effectiveness and material handling costs. 
B)  worker effectiveness and maximum visibility. 
C)  space use and proximity to raw materials. 
D)  material handling costs and overall convenience factors. 
A)  worker effectiveness and material handling costs. 
B)  worker effectiveness and maximum visibility. 
C)  space use and proximity to raw materials. 
D)  material handling costs and overall convenience factors.

Question 14

A good manufacturing layout requires all but which of the following?

Accepted Answer

A)  Flow/process study 
B)  Easy adjustment to changing conditions 
C)  Good housekeeping 
D)  An assembly line 
A)  Flow/process study 
B)  Easy adjustment to changing conditions 
C)  Good housekeeping 
D)  An assembly line

Question 15

Job training for workers and reduced tax rates, to financial grants and loans, are examples of what some ________ offer as business ________ to locate in their jurisdictions.

Accepted Answer

A)  states; motivators 
B)  cities; incentives 
C)  regions; perks 
D)  counties; attractions 
A)  states; motivators 
B)  cities; incentives 
C)  regions; perks 
D)  counties; attractions

Question 16

Under the Americans with Disabilities Act, a newly constructed:

Accepted Answer

A)  building must have elevators if they are three stories or higher. 
B)  retail store must have checkout aisles wide enough to accommodate wheelchairs (36 inches). 
C)  restaurant must make five percent of its tables accessible to wheelchair-bound patrons. 
D)  All of the above 
A)  building must have elevators if they are three stories or higher. 
B)  retail store must have checkout aisles wide enough to accommodate wheelchairs (36 inches). 
C)  restaurant must make five percent of its tables accessible to wheelchair-bound patrons. 
D)  All of the above

Question 17

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

Accepted Answer

A)  In terms of customer demographics, is the mall or center a good fit for my products or services? How much foot traffic and vehicle traffic does the mall or center generate? 
B)  Who are the other tenants? The anchor tenants? Is there a good fit for my products and services? 
C)  What are the mall's or center's vacancy and turnover rates? 
D)  All of the above 
A)  In terms of customer demographics, is the mall or center a good fit for my products or services? How much foot traffic and vehicle traffic does the mall or center generate? 
B)  Who are the other tenants? The anchor tenants? Is there a good fit for my products and services? 
C)  What are the mall's or center's vacancy and turnover rates? 
D)  All of the above

Question 18

A process layout would be best suited to:

Accepted Answer

A)  an automobile assembly plant. 
B)  an oil refinery. 
C)  a manufacturer of handmade metal gifts. 
D)  a textbook publishing plant. 
A)  an automobile assembly plant. 
B)  an oil refinery. 
C)  a manufacturer of handmade metal gifts. 
D)  a textbook publishing plant.

Question 19

The layout of any retail facility requires the owner's observation and understanding of what will work best for their staff.

Accepted Answer

A) True 
 B)False

Question 20

Refer to the following information to answer the(se) question(s):
An entrepreneur considering two sites for a men and boys' shop determines that he needs sales of $158 per square foot to be profitable. Site #1 has 13,500 potential customers who spend an average of $160.20 per year on men and boys' wear. Two competitors occupy 14,200 square feet of space. Site #2 has 10,800 potential customers spending an average of $152.10 per year on men and boys' wear. One competitor has 10,000 square feet.
-The index of retail saturation for site #1 is:

Accepted Answer

A)  $150.21. 
B)  $168.51. 
C)  $152.30. 
D)  $166.19. 
A)  $150.21. 
B)  $168.51. 
C)  $152.30. 
D)  $166.19.

Which of the following do incubators offer their tenants?

A Geographic Information System (GIS):

Shopping malls typically average parking spaces per 1,000 square feet of shopping while a typical central business district offers spaces per 1,000 square feet of shopping space.

One direct way to lower annual operating costs is to locate in a state where:

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

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

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

The U.S. Census departments "TIGER" file is a computerized map of the entire United States that gives entrepreneurs the power to pinpoint existing and potential customers.

Observing customer behavior in a retail store can help a business owner identify "hot spots" where merchandise sells briskly and "cold spots" where it may sit indefinitely.

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

The "friendliness" of the overall business environment is an important consideration in location selection and information is available to offer objective insight for this assessment.

Environmentally friendly design is no longer affordable or justified.

Two important criteria for selecting and designing a production layout are:

A good manufacturing layout requires all but which of the following?

Job training for workers and reduced tax rates, to financial grants and loans, are examples of what some offer as business to locate in their jurisdictions.

Under the Americans with Disabilities Act, a newly constructed:

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

A process layout would be best suited to:

The layout of any retail facility requires the owner's observation and understanding of what will work best for their staff.

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters

Exam 14: Choosing the Right Location and Layout

Which of the following do incubators offer their tenants?

A Geographic Information System (GIS):

Shopping malls typically average ________ parking spaces per 1,000 square feet of shopping while a typical central business district offers ________ spaces per 1,000 square feet of shopping space.

One direct way to lower annual operating costs is to locate in a state where:

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

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

Manufacturers can lower materials handling costs by using layout designed so that product flow is automated whenever possible and flow distances and times are minimized.

The U.S. Census departments "TIGER" file is a computerized map of the entire United States that gives entrepreneurs the power to pinpoint existing and potential customers.

Observing customer behavior in a retail store can help a business owner identify "hot spots" where merchandise sells briskly and "cold spots" where it may sit indefinitely.

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

The "friendliness" of the overall business environment is an important consideration in location selection and information is available to offer objective insight for this assessment.

Environmentally friendly design is no longer affordable or justified.

Two important criteria for selecting and designing a production layout are:

A good manufacturing layout requires all but which of the following?

Job training for workers and reduced tax rates, to financial grants and loans, are examples of what some ________ offer as business ________ to locate in their jurisdictions.

Under the Americans with Disabilities Act, a newly constructed:

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

A process layout would be best suited to:

The layout of any retail facility requires the owner's observation and understanding of what will work best for their staff.

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters

Shopping malls typically average parking spaces per 1,000 square feet of shopping while a typical central business district offers spaces per 1,000 square feet of shopping space.

Job training for workers and reduced tax rates, to financial grants and loans, are examples of what some offer as business to locate in their jurisdictions.