Question

Explain the difference between Agricultural product and productivity.

Answer 1

Productivity is the ratio of output to input in production. It is a measure of the efficiency of production. It is related to the utilization or the use of resources to produce goods. It increases the output. It is the increase of output from each unit in the production process. If inputs remain the same and the production of output increases, then there is a rise in the level of productivity. If the output rises in a greater proportion than the increase in the input, there is still a proportionate rise in the level of productivity. However, if the output rises at a lower rate than the input, then there will be a fall in the productivity, even though there is an increase in production on the whole. Higher productivity results in a lower cost per unit of output resulting in higher levels of profit for a company. Thus, it refers to efficient utilization of resources. High productivity increase the economic well-being. It increases the income and the standard of living of the people. It brings in money for the company.

Productivity has the following advantages:

It emphasizes the efficient utilization of all the factors of production which are scarce universally.
It attempts to eliminate wastage.
It facilitates the comparison of the performance of a company to its competitors or related firms, in terms of aggregate results and of major components of performance.
It enables the management to control the performance of the company by identifying the comparative benefits rising out of the use of different inputs.

Answer 2

"Agricultural products are the products or produce or significantly to be termed as the output or the result of the farming or cultivation. However, Agricultural Productivity is the scale of or comparative ratio of the quantity of agricultural output.

Productivity is to check the quantity of output yielded out of the given input. Product is the very thing produced by cultivation and productivity is the quantity of produce.

For example, rice will be the agricultural product of the cultivation of rice crop whereas quintals of rice produced out of particular area, seeds, saplings, and other resources will be the agricultural productivity."