Final answer:
A firm's business model should include the value proposition, revenue streams, and customer segments to outline the unique benefits offered, how it earns money, and whom it serves. Decisions about what products to produce, production methods, output, pricing, and labor are shaped by factors such as market structure and competition. The correct options are 1, 2, and 3.
Step-by-step explanation:
In addressing what three things should be included in a firm's business model, from the options given, value proposition, revenue streams, and customer segments are essential components. These are fundamental to outline the unique benefits a company offers, how it makes money, and the specific groups of people it targets.
Furthermore, decisions regarding production and strategy are influenced by factors such as production costs, labor, market structure, and market power.
The product or products a firm should produce are determined based on the demand and the firm's strategic positioning. The production process should be cost-effective and efficient to optimize profit margins. Determining how much output a firm should produce involves a balance between market demand and production capacity to minimize waste and maximize profitability.
In setting the price for products, a firm must consider market conditions, competitor pricing, and value perceived by customers. The amount of labor a firm employs should align with production needs, ensuring efficiency and productivity.