productivity
English Definitions:
productiveness, productivity (noun)
the quality of being productive or having the power to produce
productivity (noun)
(economics) the ratio of the quantity and quality of units produced to the labor per unit of time
productivity (Noun)
the state of being productive, fertile or efficient
productivity (Noun)
the rate at which goods or services are produced by a standard population of workers
productivity (Noun)
the rate at which crops are grown on a standard area of land
Productivity
Productivity is the ratio of output to inputs in production; it is a measure of the efficiency of production. Productivity has many benefits. At the national level, productivity growth raises living standards because more real income improves people's ability to purchase goods and services, enjoy leisure, improve housing and education and contribute to social and environmental programs. Productivity growth is important to the firm because more real income means that the firm can meet its obligations to customers, suppliers, workers, shareholders, and governments, and still remain competitive or even improve its competitiveness in the market place.
Productivity
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and/or data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity.Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivity can raise living standards because more real income improves people's ability to purchase goods and services, enjoy leisure, improve housing and education and contribute to social and environmental programs. Productivity growth can also help businesses to be more profitable.
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