alleryStart learning →What is infrastructure?
AThe set of tariffs and quotas a country applies to imports
BThe set of factories a country owns through its government
CThe basic institutions and public facilities an economy depends on
DThe set of trade agreements a country has signed with partners
Answer & Solution
Correct answer: C. The basic institutions and public facilities an economy depends on
1. Infrastructure means the basic institutions and public facilities of an economy.
2. Development of the economy depends on those institutions and facilities.
3. Business opportunities are usually better in countries that have an infrastructure in place.
4. Trade agreements and tariff schedules are policy instruments rather than infrastructure.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.7 Threats and Opportunities in the Global Marketplace_
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