ECONOMICS
HUMAN CAPITAL
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
the ratio of outputs to inputs.
|
|
|
the quantity of production.
|
|
|
the amount of revenue earned.
|
|
|
the quality of what is produced.
|
Detailed explanation-1: -Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output.
Detailed explanation-2: -The labor productivity ratio is a metric expressing the number of work units produced per time worked. productivity ratios essentially quantify output/input, with input being time worked and output being work units.
Detailed explanation-3: -Productivity is defined as the ratio of output to input(s).
Detailed explanation-4: -The level of productivity is the ratio of output to inputs. (For labor productivity, the input is only labor, for other measures of productivity, the input is an index of combined inputs.)
Detailed explanation-5: -Single-factor productivity refers to the measurement of productivity that is a ratio of output and one input factor. A most well-known measure of single-factor productivity is the measure of output per work input, describing work productivity.