The new knowledge produced by original research is an instance of social capital formation. Hence, the universitys unique institutional mission is to manufacture knowledge as a/an _______a)social institutionb)intellectual propertyc)consumabled)utilitye)public goodCorrect answer is option 'E'. Can you explain this answer?

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The new knowledge produced by original research is an instance of social capital formation. Hence, the university's unique institutional mission is to manufacture knowledge as a/an _______

a)
social institution
b)
intellectual property
c)
consumable
d)
utility
e)
public good

Correct answer is option 'E'. Can you explain this answer?

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The new knowledge produced by original research is an instance of soci...

Public good, 'social capital' controls the word. The most appropriuate option approximating to 'social capital' is public good.

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The new knowledge produced by original research is an instance of soci...

Explanation:
The given statement highlights that the production of new knowledge through original research is a form of social capital formation. It further notes that the unique mission of universities is to generate knowledge. Based on this understanding, the correct option is E, i.e., "public good." Here's why:

Public Good:
Public good refers to a product or service that is non-excludable and non-rivalrous, meaning that it is available to all and its consumption by one person does not reduce its availability to others. In the context of the given statement, the new knowledge generated by universities through research is a public good because:

- It is non-excludable: Once the knowledge is produced, it is available to everyone, and no one can be excluded from accessing it.
- It is non-rivalrous: The consumption of knowledge by one person or group does not diminish its availability to others. In fact, the more people use it, the more it may be refined and expanded.

Therefore, the university's unique institutional mission of generating new knowledge aligns with the production of public goods.

Other Options:
Let's briefly examine why the other options are not correct in this context:

A) Social Institution: While universities can be considered social institutions, this option does not capture the unique mission of universities to create new knowledge.

B) Intellectual Property: While universities may create intellectual property through their research, this option does not capture the broader societal benefit of knowledge production.

C) Consumable: This option is incorrect because knowledge is not a consumable product that gets used up after one use. Instead, it can be accessed and used by many people over time.

D) Utility: While knowledge may have utility value, this option does not capture the broader societal benefit of knowledge production.

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The new knowledge produced by original research is an instance of social capital formation. Hence, the university's unique institutional mission is to manufacture knowledge as a/an _______a)social institutionb)intellectual propertyc)consumabled)utilitye)public goodCorrect answer is option 'E'. Can you explain this answer?

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