Statement: “The potential of knowledge as a creator of wealth is gaining currency around the world,” says an economist. Assumptions I & II: I. Only usable knowledge that is protectable may have the potential for wealth creation. II. Only usable knowledge that is protected may have the potential for wealth creation. Choose the option that correctly identifies the implicit assumption(s).

Introduction / Context:
The economist notes a growing global recognition that knowledge can create wealth. The claim is descriptive about trends in valuation and economic thinking, not a normative or legal statement about intellectual property.

Given Data / Assumptions:

• I. “Only” protectable knowledge has wealth-creating potential.
• II. “Only” protected knowledge has wealth-creating potential.

Concept / Approach:
Both I and II introduce restrictive “only” conditions and specific legal features (protectability/protection) that the original statement does not assert. The statement is compatible with wealth creation via open knowledge, tacit know-how, trade secrets, public-domain science, open-source software, or proprietary IP.

Step-by-Step Solution:
1) The economist’s claim: recognition of knowledge’s wealth potential is spreading.2) This does not entail that only IP-guarded knowledge creates wealth (I or II). Many wealth-creating knowledge forms are unprotected or unprotectable (e.g., process innovations diffusing through learning-by-doing).3) Therefore, neither I nor II is a necessary assumption.

Verification / Alternative check:
Suppose unprotected open research yields industry-wide productivity gains—this still aligns with the statement. Thus the statement remains true without I or II.

Why Other Options Are Wrong:
Only I or only II: both add narrowing conditions absent from the statement. Either: still overcommits. Both: most restrictive and least supported.

Common Pitfalls:
Conflating “knowledge economy” with “IP economy.” While IP can enable appropriability, it is not a necessary condition for wealth creation from knowledge.

Final Answer:
Neither I nor II is implicit.