ITB: 2-5 The Concept of Productivity

According to Peter Drucker, what is the key to managing anything?

• Labor

• Time

• Money

• Equipment

What is the definition of productivity?

• The amount of goods and services produced per unit of input

• The total market value of all final goods and services produced in a country

• The measure of economic efficiency

• The measure of economic growth

How is productivity calculated?

• Output divided by inputs

• Input multiplied by output

• Output minus inputs

• Inputs divided by output

What is GDP?

• The measure of economic efficiency

• The total market value of all final goods and services produced in a country

• The amount of goods and services produced per unit of input

• The measure of economic growth

What does Per Capita GDP measure?

• The productivity of a country's population

• The total market value of all final goods and services produced in a country

• The measure of economic efficiency

• The measure of economic growth

How can an economy increase its GDP?

• By reducing the population

• By decreasing productivity

• By increasing the number of people in the workforce

• By decreasing output per person

What is one way to measure productivity?

• Unit labor costs

• Total payroll costs

• GDP per capita

• Population growth rate

Why are productivity measures important for businesses?

• To determine if the company is profitable

• To analyze the effectiveness of production methods

• To measure success against company goals

• All of the above

How can companies increase productivity?

• By investing in new technology

• By providing employee training

• By offering increased compensation and benefits

• All of the above

What has contributed to the growth of the U.S. economy?

• Increased working hours

• Technological advancements

• Improved efficiency

• All of the above