Explain five factors that may influence a firm

Answer:

-Consumer tastes:Should produce what the consumers prefer
-Availability of technology:a firm should produce a product based on the available technology
-Government policy: a firm should produce a product the does not violate the government policies
-Availability of raw materials: a firm should produce a product whose raw materials are readily available
-Consumers cultural beliefs and practices: should produce a product based on
the culture in the surrounding area

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