1.4.2 - Business location Flashcards Preview

GCSE Edexcel - Business definations and equations > 1.4.2 - Business location > Flashcards

Flashcards in 1.4.2 - Business location Deck (16)
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1

Labour:

Workers or the workforce

2

Workers or the workforce

The number of people passing a particular location within a given time period

3

Demographics:

The characteristics of the population, such as gender, age, religion, and wealth

4

National Living Wage:

National Living Wage: The minimum amount that a business is legally allowed to pay its employees

5

Bulk-gaining product:

Bulk-gaining product: An end product that is bigger than the raw materials used to make it, such as a bicycle

6

Bulk reducing product:

Bulk reducing product: An end product that is smaller than the raw materials used to make it, such as a paper

7

Convenience good:

A product that a customer buys frequently or routinely

8

A product that a customer buys frequently or routinely

A product that a customer takes time to consider before purchasing, by looking up at and weighing up a number of options before choosing one

9

Topography:

Topography: The physical characteristics of a landscape, such as being flat or hilly

10

Inertia:

A tendency to keep things as they are rather than change

11

E-Commerce:

E-Commerce: Using the internet to carry out business transactions

12

M-Commerce:

M-Commerce: Using mobile technologies such as smartphones and tablets to carry out business transactions

13

Multi-Channel:

Multi-Channel: Using a number of methods to reach the customer, including physical stores and e-commerce

14

List the factors that affect the location decision

- Proximity to market
- Proximity to labour
-Proximity to raw materials
-Proximity to competitors.

15

List the factors of business activity

- Branding
-Visibility
-The importance of transport and communications infrastructure.
- Government inducements.

16

Fixed premises

Are a physical shop or office.