Final answer:
When deciding where to produce products, a company should consider survey factors, production factors, and country factors, in order to analyze market power, competitive environment, production costs, and factors of production such as land, labor, and capital.
Step-by-step explanation:
The three broad groups of factors that a company should consider when making decisions on where to produce its products are survey factors, production factors, and country factors. These encompass a comprehensive analysis, which includes evaluating the market structure, competitive environment, and each firm's market power.
Decisions such as what product to produce, what production process to utilize, the amount of output, the price for the products, and the labor required are all contingent upon the production and cost conditions a firm faces, and these are influenced by the overall market structure, which asks how comparable products are within the industry, and the entry barriers for new firms. Additionally, choices about production are intertwined with an economy's use of its factors of production which include land, labor, capital, and entrepreneurs.