Which of the following statements is true of productivity factors?
A) Partial-productivity focus on a multiple inputs simultaneously.
B) Total factor productivity (TFP) focus on a single input.
C) It is the ratio of the quantity of output produced to the costs of all inputs used based on current prices.
D) Comparable data for total factor productivity measurements are easily available.

Question

Quizplus · Accepted Answer

Productivity factors refer to the measurement of how efficiently inputs are being used to produce outputs. Partial productivity focuses on a single input, while total factor productivity (TFP) considers all inputs used in the production process. TFP measures the ratio of the quantity of output produced to the costs of all inputs used based on current prices. Comparable data for TFP measurements may not be easily available, as it requires data on all inputs and their costs.

Which of the Following Statements Is True of Productivity Factors