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Locate And Set Up Your Business
Test Description: Locate and Set Up Your Business
Instructions: Answer all questions to get your test result.
1) Ikea is an example of a
A
Community Shopping Center
B
Regional Shopping Center
C
Warehouse
D
Super-Regional Shopping Center
2) You should locate your business in the downtown area if
A
you are afraid of locating in a high crime area
B
you want a low rent
C
your customers can shop easily at your business on their breaks or to and from work
D
you need to have parking spaces available for your customers
3) The layout of a service business where people come to the business location
A
should be considered just as carefully as that of a retail business
B
you need to keep the merchandise close to the shipping dock
C
doesnt matter
D
need to be in one story buildings
4) This is the type of store with inviting window displays and creatively displayed merchandise
A
Retail Business
B
Manufacturing Business
C
Wholesale Business
D
Service Business
5) All businesses need standard items such as furniture, lamps, and office supplies.
A
B
C
False
D
True
6) How do you determine rent per customer?
A
Projected customer traffic per month divided by rent per month
B
It is impossible
C
You sit there and count people entering the store for an entire month
D
Rent per month divided by projected customer traffic per month
7) A net lease
A
the location and availablity of potential buildings
B
occurs when the landlord pays building insurance, and the tenant pays rent, taxes, and other expense
C
is when the tenant pays a base rent each month
D
is when you buy a building
8) A quote is
A
an estimate for how much you will pay for the merchandise or service
B
something you do not want to shop around for
C
not good for business or personal practices
D
an estimate for how much your supplier will pay you for the merchandise or service
9) How low you set the reorder point depends on
A
all of these are viable answers
B
how long it takes your supplier to get merchandise to you
C
how many units of the item you sell each month
D
how important it is for you not to be out of stock
10) Indicating on a map all the areas in which you expect that might be appropriate for your business is called...
A
Inventory
B
Trade Area
C
Zoning
D
Vendors
*select an answer for all questions
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