Pro 4:7 Wisdom is the principal thing; therefore get wisdom: and with all thy getting get understanding.

Knowledge - is acquired through the learning process. knowledge is: "right knowing."

Wisdom - is the ability to apply this knowledge through experience, without having to think about what you are doing. Wisdom is: "right doing."

Understanding - is the knowledge of why to apply wisdom. Understanding is: "right reason."

Note: Every Peacher or Teacher of the Word of God must operate in these gifts to some degree if they are to teach truth. Because the Word of God is not learned it is revealed.

Knowledge - Answers the question of "What"

Wisdom - Answers the question of "When or How"

Understanding - Answers the question of "Why"

Example: Changing ceiling light fixture

Knowledge: Tells you what to do - unscrew bolt, use 3/4 inch wrench, unscrew counter clockwise.

Wisdom: Tells you when and how to do - make sure you have a way to keep the light fixture from falling once the bolt has been unscrewed

Understanding: Tells you why you do - because of the law of gravity says anything that goes up must come down if not held up by some force. ie. the bolt.