Topic 4 Flashcards
1
Q
Productivity
A
the rate of output per unit of input
2
Q
output
A
the final good or service
3
Q
input
A
the resources used in production
raw materials, equipment, time, skill
4
Q
why high levels of productivity are good
A
the more a business can produce, the more opportunity to make a profit
5
Q
how can productivity be increased?
A
