Productivity is a measure of:A.the investment required to get a business started.B.the growth of a business over a defined period.C.the amount of input needed to create a certain output.D.the profits generated by a single economic decision.
Question
Productivity is a measure of:A.the investment required to get a business started.B.the growth of a business over a defined period.C.the amount of input needed to create a certain output.D.the profits generated by a single economic decision.
Solution
Productivity is a measure of C. the amount of input needed to create a certain output. This is because productivity is typically defined as the efficiency of a production process, i.e., how much output (such as goods or services) can be produced from a given set of inputs (such as labor, materials, and capital).
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