_____ Focuses on Context Dependent Knowledge and Skills Learned Via

question 11

Multiple Choice

_____ focuses on context dependent knowledge and skills learned via social media and informal interactions through others.

• A) Guided competency
• B) Social competency learning
• C) Guided contextual learning
• D) Social contextual learning

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Definitions:

Low Entry Barriers

Conditions that make it easy for new competitors to enter an industry, typically leading to increased competition.

Collusion

A non-competitive, secret agreement between rivals to limit competition, set prices, or control market shares.

Four-Firm Sales Concentration Ratio

The percentage of total industrial sales accounted for by the four largest firms within a specific market, used to measure the degree of market concentration.

Geographic Concentration

The phenomenon of economic activity or specific industries clustering in specific regions or areas.