Economic Implications Flashcards
(2 cards)
1
Q
What is the economy
A
A system that enables scarce resources to be distributed according to different needs and wants
2
Q
What Is productivity
A
It compares the amount of goods/services produced with the amount of inputs used to produce these goods and services. (EG: If employees are unable to work productivity is lowered because other employees may have to make up for the work not performed by those who are absent)
