ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes, I understand this from the notes
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No, I don’t understand this from the notes
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No, I don’t understand this, as I have not read the notes
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None of the above
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Detailed explanation-1: -Labor productivity is largely driven by investment in capital, technological progress, and human capital development. Business and government can increase labor productivity of workers by direct investing in or creating incentives for increases in technology and human or physical capital.
Detailed explanation-2: -Labour productivity is the measure of how much output is produced per unit of labour input, for instance, per worker. Higher productivity means that a business produces more output for each worker it employs.
Detailed explanation-3: -With growth in productivity, an economy is able to produce-and consume-increasingly more goods and services for the same amount of work. Productivity is important to individuals (workers and consumers), business leaders, and analysts (such as policymakers and government statisticians).
Detailed explanation-4: -Five top factors are “Positive attitude and involvement of management, ” “Proactive employees, ” “Good working conditions, ” “Tools and equipment to raise productivity, ” and “Availability of water, power and other input supplies.”