<P> Productivity describes various measures of the efficiency of production . A productivity measure is expressed as the ratio of output to inputs used in a production process , i.e. output per unit of input . Productivity is a crucial factor in production performance of firms and nations . Increasing national productivity can raise living standards because more real income improves people 's ability to purchase goods and services , enjoy leisure , improve housing and education and contribute to social and environmental programs . Productivity growth also helps businesses to be more profitable . There are many different definitions of productivity and the choice among them depends on the purpose of the productivity measurement and / or data availability . </P>
<P> Productivity describes various measures of the efficiency of production . A productivity measure is expressed as the ratio of output to inputs used in a production process , i.e. output per unit of input . Productivity is a crucial factor in production performance of firms and nations . Increasing national productivity can raise living standards because more real income improves people 's ability to purchase goods and services , enjoy leisure , improve housing and education and contribute to social and environmental programs . Productivity growth also helps businesses to be more profitable . There are many different definitions of productivity and the choice among them depends on the purpose of the productivity measurement and / or data availability . </P>
by what term do we call the level of output generated by a given volume of inputs
by what term do we call the level of output generated by a given volume of inputs
Productivity
Productivity