Open content refers to educational resources that can be freely used, modified, and shared. It aims to improve access to education and reduce costs. Open content resources follow the four R's of reuse, revise, remix, and redistribute. Common misconceptions are that open content is always free or the same as open source. In reality, open content has significant implications by lowering education costs while increasing access to materials. Examples of open content include resources on sites like iTunes U, Khan Academy, and NASA. However, concerns remain around issues like globalization, attribution, and exploitation of open content.