ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increase in the standard of living of people in a community
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Requires infrastructure for education and training, healthcare, and other public services.
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More resources like land, labor and capital to develop products and services that add to the national income, national product and per capita income of the country.
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None of the above
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Detailed explanation-1: -Community infrastructure is the framework of physical facilities needed to support and sustain a community of people to live and work.
Detailed explanation-2: -Social infrastructure includes the construction and maintenance of facilities that support social services. These can include healthcare (medical facilities and ancillary infrastructure), education (schools, universities and student accommodation), and housing.
Detailed explanation-3: -Health infrastructure includes advanced machines, specialist doctors, nurses, and other paramedical professionals and developed pharmaceutical industries. Generally, it is difficult to describe exactly what good health means.
Detailed explanation-4: -The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service.