What Is the Difference Between Explicit and Tacit Knowledge

question 32

Essay

What is the difference between explicit and tacit knowledge?

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Definitions:

Inventory Investment

The change in the total value of unsold goods and materials held by businesses over a specific period.

GDP

Gross Domestic Product; the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Government Bonds

Securities issued by a government to raise funds from the public to finance its activities and service its debt.

Common Stock

A type of equity ownership in a corporation, with voting rights and the potential for dividends, representing a claim on part of the company's assets and earnings.