productivity

Definition

The amount of output per unit of input (labor, equipment, and capital). There are many different ways of measuring productivity. For example, in a factory productivity might be measured based on the number of hours it takes to produce a good, while in the service sector productivity might be measured based on the revenue generated by an employee divided by his/her salary.



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Related terms:

business cycle, productivity report, budget surplus, capital consumption allowance, economic cycle, Employee Stock Ownership Plan, ESOP, infrastructure, stock purchase plan

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