ENTREPRENEURSHIP

Detailed explanation-1: -In economics, productivity refers to how much output can be produced with a given set of inputs. Productivity increases when more output is produced with the same amount of inputs or when the same amount of output is produced with less inputs.

Detailed explanation-2: -What are inputs? Inputs are any resources used to create goods and services. Examples of inputs include labor (workers’ time), fuel, materials, buildings, and equipment.

Detailed explanation-3: -Calculating Productivity in Employees You can measure employee productivity with the labor productivity equation: total output / total input.

Detailed explanation-4: -Output is a quantity of goods or services produced in a specific time period (for instance, a year). For a business producing one good, output could simply be the number of units of that good produced in each time period, such as a month or a year.