Question

What do you mean by term Productive Mechanism​

Answer 1

Answer:

The productive mechanism is the mechanism in which the goods and services are produced in the most effective and efficient manner so that more output can be obtained using fewer resources. When productivity increases, the income of people increase, the standard of living of people increase and the society progresses.

Explanation:

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Answer 2

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Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output.