Asked by Tristan Gebbia on Jun 11, 2024
Verified
Productivity is the total value of all inputs to the transformation process divided by the total value of the outputs produced.
Transformation Process
The series of actions or operations conducted in manufacturing or service environments that convert inputs into finished products or outcomes.
Outputs Produced
Refers to the quantity or volume of products or services generated by a business or production process.
Inputs
Resources such as raw materials, labor, and capital that are utilized in the production process to create goods or services.
- Understand what productivity means and how it is measured.
Verified Answer
FM
Francois MarieJun 16, 2024
Final Answer :
False
Explanation :
Productivity is the total value of all outputs produced divided by the total value of the inputs used in the transformation process.
Learning Objectives
- Understand what productivity means and how it is measured.