ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Amount of g/s produced per unit of resources
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Cost of g/s produced
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Total amount of g/s produced
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Increase in quantity of g/s produced
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Detailed explanation-1: -Productivity, in economics, measures output per unit of input, such as labor, capital, or any other resource. It is often calculated for the economy as a ratio of gross domestic product (GDP) to hours worked.
Detailed explanation-2: -Resource productivity is a measure of the total amount of materials directly used by an economy (measured as domestic material consumption (DMC)) in relation to GDP . It provides insights into whether decoupling between the use of natural resources and economic growth is taking place.
Detailed explanation-3: -A labor productivity index can be calculated by dividing an index of output by an index of hours worked. When more than one index is included in a calculation, all the indexes must have the same base period. Average annual percent changes measure change over several periods stated at an average yearly rate.
Detailed explanation-4: -GDP per hour worked is a measure of labour productivity. It measures how efficiently labour input is combined with other factors of production and used in the production process. Labour input is defined as total hours worked of all persons engaged in production.