Abstract:
The sum of what is known is defined as the knowledge. It includes facts, information, and
skills acquired through education or experience: the theoretical or practical understanding
of a subject. Awareness or familiarity gained by experience of a fact or situation is also
known as the knowledge. According to Plato “True, justified belief; certain understanding,
as opposed to opinion” is defined as the knowledge. Yet another person defined knowledge
as the familiarity. Historically, knowledge of a person was helped to generate innovations
and the self-pleasure, spiritual achievements or enlightenment. Today, knowledge
is considered as one of the factors of production with peculiar characteristics. It is an
asset to owner and the most important source of wealth of a person or a group of people.
Knowledge is considered as the engine of growth in capitalist word today. It is a product of
someone with increasing marginal productivity. And also, it claims a growing commercial
value.
