Question

what does productivity mean

Answer 1

Productivity is the measure of efficiency and effectiveness of productive effort, often measured in terms of total output by total input. This formula of aggregate output by input is employed over a specific period of time. There can be various examples of productivity like the productivity of a machine or productivity of labour. We can calculate these by simply calculating what amount of useful work was done by them per unit of input. That will be their productivity to us and we can take many decisions by comparing productivities.