ENTREPRENEURIAL OPERATIONS
PRODUCTION PLANNING AND CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a suitable measure of an organization’s productive efficiency?
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Output per worker
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Sales revenue
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Variance
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Overheads
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Explanation:
Detailed explanation-1: -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-2: -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-3: -The four key types of productivity measures are capital productivity, material productivity, labor productivity, and total factor productivity.
There is 1 question to complete.