Okuzeka
Economics vocabulary · Development and Inequality

Infrastructure

Meaning in economics, with examples

/ˈɪnfrəstrʌktʃə(r)/nounCore term

In economics, infrastructure means: The basic physical systems a country needs to function, such as roads, railways, ports, power lines, water supply and telecommunications.

In Turkish: altyapı

How it is used

Central to growth and development debates: infrastructure investment, infrastructure spending, infrastructure projects. Governments build, upgrade and maintain infrastructure, sometimes through public-private partnerships (PPPs). Social infrastructure means schools and hospitals. The word is uncountable.

Example sentences

  1. Poor infrastructure raises transport costs for exporters.

  2. The plan includes major infrastructure projects such as new ports and rail lines.

Common collocations

  • infrastructure investment
  • infrastructure projects
  • transport infrastructure
  • upgrade infrastructure
  • investmentSpending on things that will be used to produce more in the future, such as machines, buildings and software; in GDP data it does not include buying shares.
  • public goodA good that people cannot easily be stopped from using and whose use by one person does not reduce what is left for others, such as street lighting.
  • developing countryA country with a lower average income, less industrial output and weaker infrastructure than the rich industrialised countries.
  • government spendingMoney that the state spends on public services, investment, salaries and social payments such as pensions; a key tool of fiscal policy.
  • economic growthAn increase in the amount of goods and services an economy produces over time, usually measured as the percentage change in real GDP.

More terms: Development and Inequality

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level:

This page explains English vocabulary for learners. It is not financial advice.