Exam code: 0450, 0986 & 0264, 0774
1/6
0Still learning
Know0
Which factor involves being close to those who buy a business's goods or services?
Proximity to the market means being close to customers, which can reduce transport costs and make the business more accessible.
Why might a manufacturing business choose to locate near its suppliers?
Locating near suppliers, or raw materials, helps reduce transportation costs and ensures a steady supply for production.
Define trade barriers.
Trade barriers are tariffs, quotas, or restrictions that make it more difficult or expensive to import and export goods between countries.
Did this page help you?
Which factor involves being close to those who buy a business's goods or services?
Proximity to the market means being close to customers, which can reduce transport costs and make the business more accessible.
Why might a manufacturing business choose to locate near its suppliers?
Locating near suppliers, or raw materials, helps reduce transportation costs and ensures a steady supply for production.
Define trade barriers.
Trade barriers are tariffs, quotas, or restrictions that make it more difficult or expensive to import and export goods between countries.
Give one reason why multinational companies choose Ireland as a business location.
Multinational companies choose Ireland because of its low corporation tax rate, highly educated workforce, and access to European and US markets.
Give one reason a retail business might choose a high street or shopping mall location.
Retail businesses choose high street or shopping mall locations to benefit from high footfall, making them more accessible and attractive to customers.
True or False?
All service businesses prefer central locations regardless of their customer base.
False.
Service businesses that do not rely on passing trade may prefer out-of-town locations to reduce costs and access local incentives.