The amount of output formed per unit input applied
What Does Productivity Mean?
Productivity is usually measured by how many units of something another unit can produce. It can be a machine or person. It can be an individual worker or a collective unit like a warehouse etc... It's usually coupled with the concept of 'Time Management'
You havent really explained it very well. I'm doing a certificate in business, and I honestly don't even understand it after you have explained in the way you have. So sorry, but what you have said, really needs to be broken down to be able to be understood by, must I say, by less educated people like myself at the moment. The last sentence you have used explains the whole meaning. Thankyou for your information and knowledge. :)
According to economics, the term productivity basically is the amount of output formed per unit input applied. Like labour productivity it characteristically calculated as output per labour hour.
In the case of land, the yield is equal to "land productivity". In Capitalism, productivity adds to higher standards of livelihood for the common people. A few economists put down "capital productivity", which is the opposite of the capital output ration. "Total factor productivity," at times known as the multi factor productivity, even comprises of labour as well as capital goods in the denominator. Distinct form labour productivity, the adding up of both capital productivity cum total factor productivity is based on quiet a few uncertain assumptions and is subject to Cambridge critique. Productivity on the whole covers a number of aspects.
In the case of land, the yield is equal to "land productivity". In Capitalism, productivity adds to higher standards of livelihood for the common people. A few economists put down "capital productivity", which is the opposite of the capital output ration. "Total factor productivity," at times known as the multi factor productivity, even comprises of labour as well as capital goods in the denominator. Distinct form labour productivity, the adding up of both capital productivity cum total factor productivity is based on quiet a few uncertain assumptions and is subject to Cambridge critique. Productivity on the whole covers a number of aspects.
