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List vs Reference

"List" or "Reference" - what to choose?
A visualisation is the same for both types:

What's the difference?
The "List"The "Reference"
1. A method for editing
The "List" is edited directly in the template.The "Reference" is edited in a special section of the application.
2. Scope of "visibility"
List of items is only available to the current template.
"Local" scope.
List of elements can be used in any template.
"Global" scope.
3. Value(s)
Only one value.Name, description, image