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Chapter 7: Q.3 (page 185)

Are there other ways in which we can measure productivity besides the amount produced per hour of work?

Short Answer

Expert verified

The other way of measuring productivity is the level of GDP per worker or GDP per hour.

Step by step solution

01

Definition

Productivity is the efficiency of production. It can be evaluated by estimating the output per hour of work done by the workers. Higher productivity leads to higher economic growth.

02

Explanation

When the resources are used efficiently, it leads to higher economic growth. For measuring the productivity of an economy methods used are Gross Domestic Product (GDP) per hour or Gross Domestic Product (GDP) per worker, other than the amount produced per hour of work.

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