If you have traveled in a foreign country, would your observations confirm the view that the...

If you have traveled in a foreign country, would your observations confirm the view that the country's demand patterns reflect consumer preferences in that country for goods produced with the country's relatively abundant factor of production? Please explain in 250-300 words.

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Expert Solution

See as Per my observations about foreign country between travel Any Foreign countries consumer Demand pattern reflect, consumer preferences about country goods with the country relatively abundant factor of production then abundant factor of production’s important part is Human Capital on labour, which represent abundant factor of production always,

Labour is main Factor of Production, and in foreign countries consumer demand preferences is about any particular good, then there this demand fulfilled by abundant factor of production such as labour, because of labour or human capital the foreign country or any countries consumer demand or preference demand fulfilled by labour.,

And because of that it is abundant factor of production for consumer preferences and their demand.,

For example -

In Foreign Countries MacDonald is famous Food Company, and peoples really like it's all Products, about McDonald's consumer demand represent or reflect consumer preferences about McDonald product, and it is produced by abundant factor of production such as labour of MacDonald.,

So as per my observation between travel in foreign countries is definitely demand pattern represent or reflect consumer preferences in that country for good produced with the country relatively abundant factor of production by labour. That’s why Labour Is important part of production factor.

Rahul Sunny answered 1 year ago

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