Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
Question
Book Icon
Chapter 10.3, Problem 2R
To determine

To state: The aspects that should be considered when locating a business.

Expert Solution & Answer
Check Mark

Answer to Problem 2R

Closeness to the market and the product approachability are some of the factors to be considered when locating a business.

Explanation of Solution

The proximity of the business to the market is one of the factors which states that the customers will buy goods and services when the shops are situated closer to them. The closer you are to the customers, the more they will buy from you.

Product approachability also plays an important role as good road connection, closeness to warehouse, easy transportation, etc helps the business to work smoothly.

Economics Concept Introduction

Introduction: Location of business holds a great importance as it will only decide whether the products are easily reachable to the customers or not.

Additional Business Textbook Solutions

Find more solutions based on key concepts
Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:9780190931919
Author:NEWNAN
Publisher:Oxford University Press
Text book image
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Text book image
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Text book image
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Text book image
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education