Q:

What is meant by physical infrastructure?

A:

Physical infrastructure refers to the basic physical structures required for an economy to function and survive, such as transportation networks, a power grid and sewerage and waste disposal systems. Viewed by some developmental economists as part of a three-pillar system, along with human capital and good governance, physical infrastructure is a prerequisite for trade and other productive activities. In a functional sense, a society's physical infrastructure facilitates the production of goods and services.

Anthropological research has demonstrated the importance of infrastructure to social development. Infrastructure shapes human society and, in turn, society shapes the infrastructure in ways that will enable its growth. The term came to prominence in the United States during the 1980s when a significant amount of policy discussion centered around the "infrastructure crisis." It was thought to have been caused by poor maintenance and a lack of funding regarding public works projects.


Is this answer helpful?

Similar Questions

  • Q:

    What is meant by "concept of elasticity of demand"?

    A:

    The "concept of elasticity of demand" measures the relationship between a change in the price of a product and the corresponding change in the quantity demanded of that product. The elasticity of demand may be perfectly elastic, perfectly inelastic or somewhere between the two.

    Full Answer >
    Filed Under:
  • Q:

    What is the function of a logo?

    A:

    A logo is the most important visual symbol of a business, and it provides symbolic representation of the values of the company and its products. A quality logo is attractive, attention-getting and memorable. An effective one offers a subconscious reminder to consumers of the brand image of a company.

    Full Answer >
    Filed Under:
  • Q:

    What is the function of a sales department?

    A:

    The function of a sales department is to engage in a variety of activities with the objective to promote the customer purchase of a product or the client engagement of a service, according to the American Marketing Organization. Some business management professionals consider sales an outgrowth of the marketing function, but others consider it an independent aspect of an enterprise's overall operational scheme, also according to the AMO.

    Full Answer >
    Filed Under:
  • Q:

    How do you calculate the cost of sales?

    A:

    The formula for calculating cost of sales is adding the starting inventory, inventory purchases and overhead expenses together and subtracting that number from inventory at the end of the year, according to Chron. This formula subtracts the sales cost from the amount earned through sales to determine the company's income.

    Full Answer >
    Filed Under:

Explore