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Chapter 1: Q9PE (page 41)

A measure calculated by taking the ratio of output to input.

Short Answer

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Productivity

Step by step solution

01

Productivity

The amount of output produced with the numberof inputs needed to generate similar items/products is known asProductivity.

02

Example of Productivity

Take anexample of the textile industry. How quickly the textile industry is producing the clothes for the market is an example of productivity.

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