productivity

Productivity

A measure of the amount of output per unit of input.

Notes:

For example, productivity in the auto industry might be measured by the number of hours of labor used per automobile produced.

See also: Economics, Economies of Scale, Guns and Butter Curve, Law of Diminishing Marginal Returns

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Productivity

The amount of output per unit of input, such as the quantity of a product produced per hour of capital employed.

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productivity

The efficiency with which output is produced by a given set of inputs. Productivity is generally measured by the ratio of output to input. An increase in the ratio indicates an increase in productivity. Conversely, a decrease in the output/input ratio indicates a decline in productivity.