Production and productivity Flashcards
1
Q
What is the difference between production and productivity?
A
Production is the act of producing a good or service, whilst productivity is the measure of how much you produce (output) per the unit of input
2
Q
What are the benefits of increased productivity?
A
- Less wastage
- Faster development of new products
- Lower costs
- Higher quality
3
Q
What factors influence productivity?
A
- Incentives
- Focus
- Technology
- Health
- Training/education
