For example, the law of supply and demand (understanding that a higher price for something will reduce the amount demanded and increase the amount supplied) is something which one is not likely to forget once it is meaningfully understood. It is important for acquiring an understanding of consumption theory. It can be applied in a broad range of ways, including deciding how much to charge for cutting someone's lawn and deciding for whom to vote. And it helps one to be creative in finding ways to maximize your income. 

Similarly, once you understand what an atom is, you are not likely to forget it; it is essential for understanding the chemical behavior of matter (atomic theory); it is a broadly useful concept in chemistry; and it greatly facilitates a chemist's ability to develop creative ideas and products.
 

• What is understanding?
• Why is understanding important?
• Principles for Learning Meaningful Knowledge
• Principles for Teaching Understanding
• Development procedure
• Team Activities
• Skill Builder