The Difference Between Specific Knowledge and General Knowledge Is That

question 234

Multiple Choice

The difference between specific knowledge and general knowledge is that

• A)the creation of general knowledge is usually more profitable for the creator.
• B)specific knowledge is excludable, while general knowledge is not excludable.
• C)general knowledge is excludable, while specific knowledge is not excludable.
• D)general knowledge is rival in consumption, while specific knowledge is not rival in consumption.

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Definitions:

Creditor Beneficiary

A third party that benefits from a contract made between two other parties, primarily involving debt repayment.

Life Insurance Policy

A contract between an insurer and an insured, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Novation

The act of replacing an old contract with a new one, substituting a new party into an existing agreement.