Productivity: Defined as ratio between output and input. Output means the amount produced or the number of items produced and inputs are the various resources employed eg. land, materials, labor, machinary etc.
Factors affecting National Productivity
1. Human Resources
2. Technology and capital investment
3. Government Regulation
Factors affecting Productivity in manufacturing and services:
1. Product or system design
2. Machinary and equipment
3. The skill and effectiveness of the worker
4. Production volume
Increasing productivity of resources:
1. Material
2. Labor
3. Plant, equipment and machinary
4. Land and Buildings
Kinds of Productivity measures
1. Labor productivity
2. Direct labor cost productivity
3. Capital productivity
4. Direct cost productivity
5. Energy productivity
6. Raw material productivity
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