________ Knowledge Is Typically Learned by Employees Only Through Experience

question 85

Multiple Choice

________ knowledge is typically learned by employees only through experience.

• A) Tacit
• B) Explicit
• C) Heuristic
• D) Intuitive
• E) Nonprogrammed

Recognize the role and impact of technology in business operations.

Understand the concept of e-commerce and its significance in modern business.

Distinguish between value-adding and non-value-adding business activities.

Explain the significance of information systems in various business areas.

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Definitions:

Accounting Profits

The difference between total revenue and explicit costs, representing the net income of a business according to standard accounting practices.

Competitive Economy

An economic system where businesses operate in a free market, competing for consumers on price, quality, and service.

Barriers to Entry

Factors that prevent or hinder new competitors from easily entering an industry or market, such as high startup costs, strict regulations, or control of key resources.

National Income

The total value of all goods and services produced by a country over a specific period, usually measured annually.