What are the key elements of sociocultural barriers to trade?

Answer by  Dave2680 (8)

Some key elements for sociocultural barriers include vast expansion of economic integration; continued absence of liquidity and ability to borrow from large banks; advancement in information technologies such as web and mobile technologies; and gentrification of poor areas and communities by large corporations. Additionally, lack of jobs in troubled areas is a problem.

Answer by  floridawendy (70)

The primary sociocultural barriers to trade are matters of understanding. Literally, language is key. But more important than this, understanding the differences between cultures will make it possible for trade to be developed and to thrive.

Answer by  Anonymous

Key elements that affect business include nonverbal communication, forms of address, attitudes toward punctuality, religious celebrations and customs, business practices, and expectations regarding meals and gifts.

Answer by  redmamaof5 (188)

The key elements of sociocultural barriers are expansion of regional economic integrations; excessive liquidity in financing cross-country purchases; and increasing connectedness with customers and marketing partners due to major advances in information, communication, and transportation technologies. The impact of export barriers is shown to be situation-specific, largely depending on the idiosyncratic managerial, organizational, and background of the firm.

Answer by  tamarawilhite (17883)

These barriers can include: language, such that traders cannot communicate, prejudices, where they will not communicate (such as Hindus refusing to touch anything an Untouchable has made, not even a water glass), embargoes, where it is forbidden to trade with another group for religious reasons (like Mohamed before Medina).

Answer by  eldergeek (473)

Differences in religious beliefs or practices, basic cultural assumptions and/or patterned behavior, language, idiom, body language and assumptions about social strata are all among potential trade barriers.