Which of the following statements about the importance of productivity is TRUE?
A) It is important to a firm's profitability.
B) It is important to a firm's ability to survive.
C) It contributes to our overall quality of life.
D) It contributes to a country's standard of living.
E) All of these choices

Question

Quizplus · Accepted Answer

All of these choices are true. Productivity is important to a firm's profitability, as it determines how efficiently the firm uses its resources to produce goods and services. It is also critical to a firm's ability to survive, particularly in a competitive marketplace. Additionally, higher productivity can lead to increased economic growth and a higher standard of living for the country as a whole. Finally, productivity contributes to our overall quality of life as it enables us to produce more goods and services with fewer resources, freeing up time and resources for other activities.

Which of the Following Statements About the Importance of Productivity