Infrastructure

Definition

Infrastructure refers to the basic physical structures and facilities needed for the functioning of a society or economy. This includes roads, bridges, airports, water supply systems, and communication networks.

Related terms

Public Goods: Goods or services that are non-excludable (cannot be denied to anyone) and non-rivalrous (one person's use does not diminish its availability for others), often provided by governments.

Capital Stock: The total value of physical assets (such as buildings, machinery, equipment) used in production within an economy.

Investment: The act of allocating resources (money, time) with the expectation of generating future benefits or returns. In terms of infrastructure, investment refers to spending on building or improving physical structures.