Economic growth and productivity Flashcards
What do we call it when a countries economy grows bigger?
Economic growth.
Fill in the missing word:
The country has produced more ____ and ____ than it did the previous year.
Good and services.
What does the word productivity refer to?
How efficiently resources are being used to generate products and services.
Fill in the missing word:
Increasing productivity is the process of ____ the use of resources to get ____ out of them so that more good and services can be produced.
Improving and more.
What does the government try to do by improving the productivity of the workforce?
He tries to improve the productivity so that the output of all businesses improve.
What happens when the productivity of labour is low?
There is waste of resources and a decrease in economic growth.
Name five factors that have a negative effect on the productivity of labour.
Bad health Lack of education and training Poor motivation Absenteeism Strikes and industrial action