What are the factors that determine what is produced in an economy?

There are a number of factors that determine what a particular economy produces. These are commonly known as factors of production. The most central factors of production are often the natural resources which are readily available. Minerals, metals, oil, and so on can all be extracted, refined, and used for export or local manufacturing or consumption. Related to natural resources, the land itself is a significant factor of production if there is readily usable real estate on hand for industrial and commercial utilization.
A labor force is also a factor of production. Having a trained and sizable workforce means that there are more opportunities available to increase economic output. Economies without much in the way of a workforce often do not grow or prosper, even if they have access to natural resources.
Technology also has a role in determining what is produced in an economy. Advances in manufacturing mean that more products can be produced quickly and cheaply. Economies without access to the latest manufacturing technologies may find themselves overlooked on the international market. On the other hand, advanced economies can take better advantage of their manufacturing technologies to produce more products or products of higher quality and value.
Finally, investment capital is an important factor. There is always a cost to business and production. Often a significant investment is required, especially when an economic venture is in its early stages and has yet to produce a significant profit. Having investors willing to support certain economic enterprises goes a long way in determining what is produced in an economy.
http://www.economicsdiscussion.net/production/factors-of-production-land-labour-capital-and-entrepreneur-national-income/541

One of the factors of production is land and natural resources, such as water and natural habitat. Land resources are useful because they are used as raw materials during production. These resources can either be renewable or nonrenewable.

“While the land is an essential component of most ventures, its importance can diminish or increase based on industry” (Hayes, 2019)

Another important factor is labor. Labor is the human resource needed in production. These resources are categorized into different professions such as engineering and medicine. Labor resources are compensated through wages.
Capital is another crucial factor in determining what is produced in an economy. Capital depends on the type of production being done. Examples of capital include buildings, machinery, and computer systems.
Entrepreneurship is also a key factor. An entrepreneur is a person who utilizes natural resources, labor, and capital to make a profit. Successful entrepreneurs are innovative and find efficient ways to produce goods and services.