what is productivity

Question

Accepted Answer

Productivity is the measure of efficiency and output in relation to the resources used.

Productivity is a measure of how efficiently resources are utilized to produce output.
It is often measured as the ratio of output to input.
Higher productivity indicates that more output is being generated with the same or fewer resources.
For example, if a factory produces 100 units of a product in an hour using 10 workers, and then increases its productivity, it may be able to produce 150 units in the same hour with the same 10 workers.
Factors that can affect productivity include technology, skills of the workforce, management practices, and the availability of resources.

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