This is a Modeling an Economic Decision project please be thorough and make sure you do th eproject like the directions say. Thank you for your help in advance.

Modeling an Economic Decision Step 1: Identifying the F actors of Production 1. Discuss the land, labor, capital, and entrepreneurship that would be required to establish a business that designs and sells tshirts. Be thorough when brainstorming your lists. Land " Labor Capital Entrepreneurship 2. Use your completed lists to write a brief report summarizing the factors of production needed to start this business: Step 2: Evaluating Trade-Offs and Opportunity Costs 1. Your t-shirt business must now decide whether to produce hats also. Compose a list of possible trade- offs associated with this decision. 2_ Evaluate the opportunity costs associated with producing hats by making a production possibilities curve. Use the following data: Number of TShirts and Hats Produced You may graph your curve on paper or Desmos and insert a picture/sereenshot here: 3. Use nished work to describe the opportunity costs of producing several quantities of hats. 4. Explain how the problem of scarcity and the concept of limited resources affected each step in the t shirt business