What is the definition of productivity?
A)the efficient use of technology
B)output produced by a combination of two or more inputs
C)output produced per unit of input
D)a measure of input used
E)the cost of a unit of output

Question

Quizplus · Accepted Answer

Productivity is defined as the output produced per unit of input. It is a measure of how efficiently resources such as labor, capital, and technology are used to produce goods or services. Output can be measured in various ways, such as units produced, sales revenue, or customer satisfaction ratings. Input can be measured in terms of hours worked, capital invested, or materials used. By increasing productivity, a company can increase profitability, compete more effectively in the marketplace, and improve the standard of living for its employees and customers.

What Is the Definition of Productivity