ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Infrastructure is defined as the basic physical systems of a business, region, or nation and often involves the production of public goods or production processes. Examples of infrastructure include transportation systems, communication networks, sewage, water, and school systems.

Detailed explanation-2: -Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function.

Detailed explanation-3: -Social infrastructure: This type of infrastructure has the basic services that improve individual productivity and achieve social objectives. Social infrastructure contributes indirectly to the country’s economic development.

Detailed explanation-4: -Economic infrastructure refers to the facilities, activities and services which support operation and development of other sectors of the economy. These facilities, activities and services help in increasing the overall productivity of the economy.

Detailed explanation-5: -Infrastructure Enhances Size of the Market: Infrastructure widens the size of the market. The fast and cost-effective movement of raw materials and finished goods in bulk enables a producer to offer his products across the country and even across international boundaries.