Productivity Flashcards
(7 cards)
1
Q
What is productivity?
A
Measure of the efficiency of the factors of production
2
Q
What is labour Productivity?
A
Output per worker over a specific time.
3
Q
List me 3 factors that improve productivity?
A
- Management Quality 2. Technology 3. Labour Skill
4
Q
How do management quality improve productivity?
A
Effectiveness of leadership in improving productivity.
5
Q
How do technology improve productivity?
A
Tools and systems enhancing production processes.
6
Q
How do Labour Skill improve productivity?
A
Worker’s ability to perform tasks effectively.
7
Q
Long-run Productivity
A
Sustained efficiency improvements over extended periods.
