Changes

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*[http://en.wikipedia.org/wiki/19th_century 1810]

*[https://en.wikipedia.org/wiki/19th_century 1810]

==Definitions==

==Definitions==

*1: the [[quality]] or [[state]] of [[being]] productive

*1: the [[quality]] or [[state]] of [[being]] productive

'''Productivity''' is a [[measure]] of the [[efficiency]] of production. Productivity is a [[ratio]] of what is produced to what is required to produce it. Usually this ratio is in the form of an [[average]], expressing the total output divided by the total input. Productivity is a measure of output from a production [[process]], per [[unit]] of input.

'''Productivity''' is a [[measure]] of the [[efficiency]] of production. Productivity is a [[ratio]] of what is produced to what is required to produce it. Usually this ratio is in the form of an [[average]], expressing the total output divided by the total input. Productivity is a measure of output from a production [[process]], per [[unit]] of input.

At the [[national]] level, productivity [[growth]] raises living [[standards]] because more real [[income]] improves people's ability to purchase [[goods]] and services, enjoy [[leisure]], improve housing and [[education]] and contribute to [[social]] and [[environmental]] programs. Productivity [[growth]] is important to the firm because it means that the firm can meet its (perhaps growing) [[obligations]] to customers, suppliers, workers, shareholders, and [[governments]] ([[taxes]] and regulation), and still remain [[competitive]] or even improve its competitiveness in the [[market]] place.[http://en.wikipedia.org/wiki/Productivity]

At the [[national]] level, productivity [[growth]] raises living [[standards]] because more real [[income]] improves people's ability to purchase [[goods]] and services, enjoy [[leisure]], improve housing and [[education]] and contribute to [[social]] and [[environmental]] programs. Productivity [[growth]] is important to the firm because it means that the firm can meet its (perhaps growing) [[obligations]] to customers, suppliers, workers, shareholders, and [[governments]] ([[taxes]] and regulation), and still remain [[competitive]] or even improve its competitiveness in the [[market]] place.[https://en.wikipedia.org/wiki/Productivity]

[[Category: Economics]]

[[Category: Economics]]