This ‘game’ was posted in one of the forums I frequent, and I thought it was a really neat idea for coming up with shoot ideas (especially if you’re shooting stock stuff). As I took it, the “studio” is a place where you can shoot with a lighting setup (or even a set you can create in a studio). The “location” is one where you need to shoot with available light and/or on-camera flash, typically an actual location versus a set that can be easily designed in a studio.