In Terms of Making a Location Decision,when Fixed Costs Are

question 65

Multiple Choice

In terms of making a location decision,when fixed costs are substantial,the minimum efficient scale of production is high,and flexible manufacturing technologies are available,it makes sense to:

• A)manufacture the product in every country in which it is sold.
• B)concentrate production at a few choice locations.
• C)spread production over to as many locations as possible.
• D)outsource production to a third party.

Gain insight into the structure and benefits of different business ownership types, including sole proprietorships, partnerships, and corporations.

Understand the significance of franchises in the business world and the relationship between franchisors and franchisees.

Realize the importance of a business plan's elements in securing financing.

Acknowledge the advantages and disadvantages of home-based businesses.

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Definitions:

Two-Track Mind

The concept that the human mind simultaneously processes information on two separate tracks, one conscious and analytical, and the other unconscious and automatic.

Unconscious Mind

The part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Defense Mechanisms

Unconscious mental tactics employed to shield oneself from the anxiety triggered by thoughts or feelings deemed unacceptable.

Testable Hypotheses

A proposition that can be verified or falsified through experimentation or observation.