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What Is the Difference Between Knowledge and Opinion

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Short Answer

What is the difference between knowledge and opinion?


Definitions:

Private Consumption

The total spending by households and individuals on goods and services for personal use, excluding government spending.

Pareto Optimal

A circumstance in resource distribution where an improvement for one individual correlates with a setback for another.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning their consumption by one individual does not reduce availability to others.

Private Consumption

The total value of all goods and services consumed by individuals and households for personal use.

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