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
'productivity' appears in the definitions of these other terms on BusinessDictionary.com: marginal productivity theory of wages, job simplification, law of diminishing returns, long term objectives, total quality management (TQM), and
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