what is the difference between productivity rating and productivity index?
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Productivity is the ratio of the volume of output to the volume of inputs. It measures how much output is generated per unit of input, that is:
Productivity=Output/Input
Productivity Index: This is a comparison- say with some base. e.g. Average Production during 2016 April is say 100 units per month and Estimated Production in 2017 is 110 Unit per month that production index (monthly) is 110.
Say The index (yearly) for 2016 would be 1200 while the index for 2017 would be 1320 - if production is increased by 10 %
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