Bus. Own./Entrepreneurship - Chapter 8 Review

Which of the following is not a location option for a retail business?

Shopping centers can have as few as three (3) stores and as many as 20+.

Which of the following is NOT a good reason to locate a business in the home?

When purchasing supplies, equipment and inventory, it is always best to purchase from the lowest-cost vendor.

Which commercial lease do most landlords prefer?

Which of the following is the LEAST important factor in determining the reorder point for a sale item in your store?

Availability of parking would be an important consideration for the location of a coffee shop.

In an industrial business, a key factor in deciding where to locate is the availability of good employees.

Which of the following leases is the "easiest" for the tenant?

Which of the following service businesses would consider the same location factors as a retail business?

Most businesses need all of the following types of supplies and equipment EXCEPT

The percentage lease is the most common for prime retail locations.

A lease in which the tenant pays rent each month for the space occupied, and the landlord covers all property expenses.

Stand alone stores

An attractive layout is probably most important for a(n)

One good way to find a location for your new business is simply by driving around your trade area.

After a business owner leases or purchases a facility, he/she needs to design the layout, or

A section of land that is zoned for industrial businesses only is a/an:

Determining the amount of inventory to keep in stock is difficult for all business owners, not just new entrepreneurs.

In a triple-net lease, what do the "NNN" represent?

Owning property offers a bigger tax advantage than leasing.

Inventory consists of the parts that will go into producing the business's product as well as its finished goods for a

Which of the following is NOT considered inventory?

Before you purchase supplies for your business, get quotes from several vendors to get the best prices.

Neighborhood shopping centers are typically anchored by a grocery store.

The area from which a business expects to attract customers is known as a:

Only retail businesses need to take inventory, since they are the only types of businesses that sell products to consume

If convenience is a factor for your target market, locating in a mall is a good idea.

A new retail business should never be located in a downtown area.

In this type of lease, the tenant pays rent each month and the landlord covers all property expenses for that space.

The layout of a retail store should leave at least 4 ft. of aisle space to make it easy for customers to move around.

The tenant is the person who owns and rents out buildings or space.