i. The intended quality - The quality of the product intended for the market will dictate how the product will be produced to ensure it meets those standards. This could be due to purpose of prestige of regulation by the government.
ii. The target market - The targeted buyers will be determine how the product will be produced. This could be in based on gender, age, social status or level of income.
iii. Quantity of output - The quantity needed to be supplied in the market will determine how the to produce a product. A low quantity may require use human labor while high quantity will require use of machines.
iv. Market size or share - The size of the market or the share the business entity controls will determine how the product will be produced. This determines the quantity, quality, targeted buyers or the level of income of buyers.
v. Cost of production - This is directly proportional to the output with respect to the law of diminishing returns.
vi. Storage facilities - availability of storage facilities may help a business to produce when there abundant supply of raw materials and store for release to the market in the future. This is common in the agricultural sector.
vii. Convenience - The convenience of one method of production over another will influence how a commodity is produced.
SIRKAYS answered the question on January 24, 2018 at 16:42
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