Productivity Flashcards
1
Q
Production
A
the actual amount of output produced
2
Q
Productivity
A
a measure of how much output is produced for a given level of input
3
Q
Productivity formula
A
Total output per time period
Number of units of factor of production
4
Q
Labour productivity
A
Total output per time period
Number of units of labour
5
Q
Average cost
A
Total cost
Number of units of output
