GENERAL KNOWLEDGE

Detailed explanation-1: -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.

Detailed explanation-2: -Productivity refers to how much output a company can generate with a given amount of input. Labor productivity, or how productive a company’s workers are, is important for ongoing profitability.

Detailed explanation-3: -Productivity is a measure of economic performance that compares the amount of goods and services produced (output) with the amount of inputs used to produce those goods and services.

Detailed explanation-4: -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.