Question 1

Retailers should be careful not to locate near anyone in direct competition with them.

Accepted Answer

A) True 
 B)False

Question 2

To calculate the IRS, a retailer needs to know the number of customers in the area, the retail expenditures for her/his product, 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 3

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 4

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 5

The purpose of zoning regulations is to ________.

Accepted Answer

A)  restrict the growth of businesses 
B)  contain similar types of activities in suitable locations 
C)  help new businesses "incubate" in their startup period 
D)  build the traffic volume for retail and service businesses 
A)  restrict the growth of businesses 
B)  contain similar types of activities in suitable locations 
C)  help new businesses "incubate" in their startup period 
D)  build the traffic volume for retail and service businesses

Question 6

Zoning is a system for mixing types of business and industrial activities to make maximum efficient use of the area.

Accepted Answer

A) True 
 B)False

Question 7

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 8

When would a business choose to locate near the source of the raw material?

Accepted Answer

A)  The company requires an important raw material that is difficult to transport. 
B)  The company requires an important raw material that is expensive to transport. 
C)  The company keeps its inventory of an important raw material low to keep costs down and counts on quick deliveries from suppliers. 
D)  All of the above 
A)  The company requires an important raw material that is difficult to transport. 
B)  The company requires an important raw material that is expensive to transport. 
C)  The company keeps its inventory of an important raw material low to keep costs down and counts on quick deliveries from suppliers. 
D)  All of the above

Question 9

A(n) ________ is a special exemption to a zoning ordinance.

Accepted Answer

A)  variance 
B)  exception 
C)  trade area 
D)  cluster 
A)  variance 
B)  exception 
C)  trade area 
D)  cluster

Question 10

Criteria for a "good location" are universal and apply to all types of small businesses.

Accepted Answer

A) True 
 B)False

Question 11

When the cost of transporting a product is high relative to its value, locating close to the market a manufacturer plans to serve is critical.

Accepted Answer

A) True 
 B)False

Question 12

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 13

What is a business incubator? What can an incubator offer an entrepreneur just starting out?

Accepted Answer

A business incubator is an organization

Question 14

A community center is an upscale shopping experience with specialty stores, dining and entertainment in an outdoor setting.

Accepted Answer

A) True 
 B)False

Retailers should be careful not to locate near anyone in direct competition with them.

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

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

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

The purpose of zoning regulations is to ________.

Zoning is a system for mixing types of business and industrial activities to make maximum efficient use of the area.

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

When would a business choose to locate near the source of the raw material?

A(n) ________ is a special exemption to a zoning ordinance.

Criteria for a "good location" are universal and apply to all types of small businesses.

When the cost of transporting a product is high relative to its value, locating close to the market a manufacturer plans to serve is critical.

A Geographic Information System (GIS) ________.

What is a business incubator? What can an incubator offer an entrepreneur just starting out?

A community center is an upscale shopping experience with specialty stores, dining and entertainment in an outdoor setting.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Inside the Entrepreneurial Mind: From Ideas to Reality

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership and 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: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters

Exam 14: Choosing the Right Location and Layout

Retailers should be careful not to locate near anyone in direct competition with them.

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

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

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

The purpose of zoning regulations is to ________.

Zoning is a system for mixing types of business and industrial activities to make maximum efficient use of the area.

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

When would a business choose to locate near the source of the raw material?

A(n) ________ is a special exemption to a zoning ordinance.

Criteria for a "good location" are universal and apply to all types of small businesses.

When the cost of transporting a product is high relative to its value, locating close to the market a manufacturer plans to serve is critical.

A Geographic Information System (GIS) ________.

What is a business incubator? What can an incubator offer an entrepreneur just starting out?

A community center is an upscale shopping experience with specialty stores, dining and entertainment in an outdoor setting.

The Foundations of Entrepreneurship

Ethics and Social Responsibility: Doing the Right Thing

Inside the Entrepreneurial Mind: From Ideas to Reality

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership and 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: Debt and Equity

Global Opportunities

Building a Team and Management Succession

Filters