Explain the factors that may influence an entrepreneur on the decision of the products to provide in the market

Explain five factors that may influence an entrepreneur on the decision of the products to provide in the market.

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1. Profitability - business will produce and that would yield maximum profit

2. Level of competition i.e. business will decide to produce goods with no competition or fair competition

3. Availability of resources. Business will produce goods and services that have adequate raw materials, labor, equipment, space and technology

4. Government policy e.g. subsidies, incentives

5. Demand/market - business should produce products which are highly demanded in the market

6. Cost of production

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johnmulu answered the question on January 21, 2017 at 09:09

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