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In our paper we deal with the knowledge-based economy and possible ways of its measuring and evaluating. The first part of the article introduces theoretical background of this topic. This part is focused especially on definition of the term knowledge economy and characteristics of it. In the second part we evaluate the level of knowledge economy in the member states of the European Union. The comparison is carried out on the basis of the World Bank assessment and analysis of selected indicators published by Eurostat. The third, crucial, part of our paper is result of own research that was aimed at quality of business environment in the Czech Republic. The assessment of knowledge infrastructure was one of the important parts of this research.
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