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Forces that Affect Trade in Global Markets

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which one of the following is NOT a sociocultural factor?

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1. Easy access to shipping lanes is an example of a _____ factor that impacts a country's ability to participate in the global market.

2. How is a market system different from a command system?

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About This Quiz & Worksheet

Examining all that a business has to contend with in today's economy, this quiz and corresponding worksheet will help you gauge your knowledge of the forces affecting trade in global markets. Topics you'll need to know to pass the quiz include understanding the types of sociocultural factors as well as knowing how shipping lanes can be a factor in the market.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Sociocultural factors
  • Categories of market systems
  • How tariffs and quotas can affect a business

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related forces affecting trade in global markets lesson
  • Interpreting information - verify you can read information regarding how tariffs and quotas can affect a business and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the characteristics of environmental forces

Additional Learning

To learn more about what needs to be considered to stay afloat financially, review the corresponding lesson Forces that Affect Trade in Global Markets. This lesson will help you:

  • Appreciate the complexity of the global market
  • Identify the main forces at play in today's economy
  • Understand the characteristics of the forces businesses contend with
  • Describe the role of tariffs and quotas within political and legal forces
  • Show how currency exchange rates can affect the economic climate
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