productivity
Sign in to saveProductivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose
AI overview
Productivity measures how efficiently something is produced—essentially, how much output you get from a given amount of input, like how many goods a worker can make per hour. It matters because it helps us understand and evaluate how well businesses, industries, and entire economies are using their resources, though there are many different ways to measure it depending on what you're trying to assess.
AI-generated from the Wikipedia summary — may contain errors.
Article
18 sectionsContents
- Partial productivity
- Labour productivity
- Multi-factor productivity
- Total productivity
- Benefits of productivity growth
- Drivers of productivity growth
- Individual and team productivity
- Detrimental impact of bullying, incivility, toxicity and psychopathy
- Business productivity
- Productivity paradox
- National productivity
- See also
- References
- Citations
- Sources
- Further reading
- External links
- Handbooks
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity.
Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivity can raise living standards because increase in income per capita improves people's ability to purchase goods and services, enjoy leisure, improve housing, and education and contribute to social and environmental programs. Productivity growth can also help businesses to be more profitable.