Short Notes: productivity
Posted by Ripon Abu Hasnat on Tuesday, May 27, 2014 | 0 comments
In
general, productivity measures the effectiveness or efficiency of productive effort. Productivity can be measured in many
different ways. Physical productivity
measures the actual amount of a good or service produced (eg. tons of steel, or
number of haircuts).
Productivity
can also be measured in terms of the value of output. Most commonly, productivity is measured as
the amount of output produced over a certain period of work (e g. output per hour);
this is considered a measure of labour productivity. But other approaches are also possible,
including measurements of capital productivity (output relative to the value or
physical quantity of invested capital) and “total factor productivity” (which
is an abstract statistical measurement of the overall effectiveness of
production).
You can subscribe by e-mail to receive news updates and breaking stories.
0 comments for "Short Notes: productivity "
Leave a reply