Question

Types of productivity - Write short notes on given term.

Answer 1

There are four types of productivity.They are - Labor productivity, Material productivity,Capital productivity and Total factor productivity.

1).Labor productivity is the ratio output per person. Labor productivity measures the efficiency of the Labor in the transformation of something into a product of higher value.

2).Capital productivity is the ratio output(goods or services)imput of physical capital.Improving physical chemical(known as capital deepening)typically yields an increase in output.

3).Material productivity is the ratio of output to the input of materials(also known as natural resources)

4).Total factor productivity is not a simple ratio of output to input, but rather it is a measure that captures everything that is not captured as labor,capital or material productivity.