Question

. Based on what you have learned about resources and scarcity, what factors do you need to consider when producing this good? Give your answer in the form of three to four complete sentences.

Answer 1

The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. 
The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. hope this helps 

www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-2-factors-of-production  listen to this for more help 

Answer 2

Producers must consider how limited a resource is when it is used to create an item. The more scarce a resource is, the greater value is given to that resource. It is important to determine if it is necessary to use a scarce resource to create a good, because a less scarce resource could be used instead. This would make it easier to produce a good, but it would give the final item a lower value.

That's the answer given on e2020