Effective Communication Potentially Improves Knowledge Management and Decision Making

question 43

True/False

Effective communication potentially improves knowledge management and decision making.

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Definitions:

Opportunity Costs

The cost of an alternative that must be forgone in order to pursue a certain action; the benefits you could have received by taking an alternative action.

Trade-offs

The concept that in order to gain something, something else must be given up, reflecting the opportunity cost of choices and decisions.

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period, reflecting improvements in the standard of living.

Scientific Method

A systematic process of observation, experimentation, and analysis used to advance knowledge in the sciences.