Productivity (Make the Most of It)

Methods to evaluate Business Productivity include: (Check ALL that apply)

• Dividing the number of products produced by the number of steps involved in producing them

• Dividing the dollar value of total sales by the number of salespeople who make the sales

• Dividing the dollar value of total sales by the costs of making those sales.

• Dividing the number of hours worked by the wages paid to employees

When a business produces more products in more efficient and cost-effective ways, then it can sell these products to consumers at more competitive prices. This is known as ______ ____________

Making the best use of the resources available is known as _____________

Gross Domestic Product (GDP) is measured by

• Everything that a country produces within its borders in a year

• All profits made by companies

• The number of domestic products shipped to other countries

_________________ is brought on by higher wages that cause higher prices that create a new demand for higher wages.

__________ are resources used in producing the outputs.

The production of a few products in large quantities is called ________ _______________.

_____________ are known as "goods and services produced".

When you participate in business decision-making, you work harder and do better quality work. This practice is known as ___________ _______________ ________________.

___________________ is the amount and value of goods and services produced from set amounts of resources.