Tacit Knowledge Has Which of the Following Characteristics

question 62

Multiple Choice

Tacit knowledge has which of the following characteristics?

• A)Codified
• B)Objective
• C)Unstructured
• D)Rational
• E)Technical

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Definitions:

High Barriers

Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, complex regulations, or strong brand loyalty.

Market Entry

The strategy or process involved in introducing a new product or service to a target market.

Unregulated Monopolists

Firms that maintain exclusive control over a particular market or product without any oversight or restrictions from regulatory bodies.

Oligopolistic Markets

Markets dominated by a few large suppliers who have some control over the prices due to the limited number of competitors.