ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Hard infrastructure is the physical system needed to run a modern, industrialized nation. Examples include roads, highways, and bridges, as well as the assets required to make them operational such as transit buses, vehicles, and oil refineries.

Detailed explanation-2: -Two main categories of infrastructure are hard and soft infrastructure. Soft infrastructures are the institutions that make up an economy, like healthcare systems, law enforcement, financial institutions and educational systems.

Detailed explanation-3: -In addition, infrastructures are such basic requirements like railways, roads, ships, airways, communication, etc. They also include energy, banking, science, technology, health, education and other public utility concerns.

Detailed explanation-4: -Infrastructure as a support system (such as schools, hospital) develops the quality of human capital by imparting quality and technical education and health facilities. This raises the standard and quality of living and helps the economy to eradicate major economic problems like poverty, unemployment and inequality.

Detailed explanation-5: -Soft Infrastructure. Soft infrastructure refers to all the institutions that help maintain a healthy economy. Hard Infrastructure. Hard infrastructure comprises all the physical systems that are crucial to running a modern, industrialized economy. Critical Infrastructure. 13-Dec-2022