State the term that means large-scale physical capital, usually provided by the government, that makes economic activity possible.
Question
State the term that means large-scale physical capital, usually provided by the government, that makes economic activity possible.
Solution
The term that refers to large-scale physical capital, typically supplied by the government, which enables economic activity is "infrastructure." Infrastructure encompasses the fundamental facilities and systems serving a country, city, or area, including transportation (like roads, bridges, and airports), utilities (like water supply, sewerage, and electrical grids), and communication systems (like the internet and telecommunications). These facilities are crucial as they support various economic activities by providing the essential services needed for industries, commerce, and public services. Investment in infrastructure can stimulate economic growth, enhance productivity, and improve the quality of life for citizens.
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