Productivity

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Productivity is a measure of how much is produced from a given amount of inputs, such as work, machines or materials.

Measuring productivity

The input most often measured is labour-hours, the number of hours people work. This gives labour productivity. Economists also use total factor productivity, which is a measure of the productivity of all the factors of production together.

Raising productivity

Improved technology has increased labour productivity over time. Saving and investing in machines, tools, factories and other equipment can also raise productivity.

See also

• Economic growth