After Identifying the Five Major Factors in Deciding the Location

question 75

Essay

After identifying the five major factors in deciding the location for a business, summarise the impact each factor has if an entrepreneur was opening a restaurant.

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Definitions:

High Point

The highest value or peak that an economic indicator or a market index reaches over a specific time period.

Capital Goods

Long-lasting goods used in the production of other goods or services, such as buildings, machinery, and equipment.

Money Supply

This refers to the total amount of monetary assets available in an economy at a specific time.

Inflation Rate

The pace at which prices for goods and services across the board escalate, resulting in the diminishing value of money.