"All the world's indeed a stage,
And we are merely players:
Performers and Portrayers,
Each another's audience,
Outside the gilded cage."
( Neil Peart )
The "key" to understanding the Bible. A "dispensation" is the "information" relevant for application during a specific period of time. Keeping that "content" in context is the KEY to understanding what God wants you to believe and how you are to behave. Hope this helps.