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What is infrastructure known as in economic literature?
What is infrastructure known as in economic literature?
Infrastructure is popularly known as 'Overhead Capital' or 'Social Overhead Capital' in economic literature.
What is the aim of Sustainable Development Goal (SDG) 9 in relation to infrastructure?
What is the aim of Sustainable Development Goal (SDG) 9 in relation to infrastructure?
SDG 9 aims to develop quality, reliable, sustainable and resilient infrastructure to support economic development and human well-being, with a focus on affordable and equitable access for all.
Who stated that Social Overhead capital is the 'basic services without which primary, secondary and tertiary productive activities cannot function'?
Who stated that Social Overhead capital is the 'basic services without which primary, secondary and tertiary productive activities cannot function'?
The famous economist A.O Hirschman stated that Social Overhead capital is the 'basic services without which primary, secondary and tertiary productive activities cannot function'.
What does this unit focus on in regards to infrastructure?
What does this unit focus on in regards to infrastructure?
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What does infrastructure mean in the context of the text?
What does infrastructure mean in the context of the text?
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Study Notes
Infrastructure in Economic Literature
- Known as "capital goods" which include facilities, structures, and systems that support economic activity.
- Encompasses transportation, communication, utilities, and public services critical for economic performance.
Sustainable Development Goal (SDG) 9
- Aims to build resilient infrastructure that promotes inclusive and sustainable industrialization.
- Emphasizes fostering innovation and encouraging sustainable practices within industries.
Social Overhead Capital
- Concept introduced by economist Gunnar Myrdal, highlighting essential services required for various productive activities to operate effectively.
- Encompasses utilities, transportation, education systems, and healthcare, essential for economic development.
Unit Focus on Infrastructure
- Explores the role of infrastructure in enhancing economic productivity and social welfare.
- Analyzes various types of infrastructure and their impact on development goals and economic growth.
Definition of Infrastructure
- Refers to the foundational systems and structures necessary for the functioning of a society and economy.
- Includes physical (roads, bridges) and social (education, health) components that support growth and development.
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Description
Test your knowledge of India's infrastructure with this quiz! Explore the key concepts and significance of infrastructure in economic and social development.
