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Productivity

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PPGPortal > Home > Concept Dictionary > P, Q > Productivity
 

Productivity

The relationship between the output of goods and services and the factors of production used to produce them.

(Dictionary of Political Economy. http://poli.haifa.ac.il/~levi/res/dicpe.html)

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Includes total productivity, total output divided by total weighted inputs, and marginal productivity, change in output divided by change in weighted inputs.

Economists distinguish between total productivity, namely total output divided by total weighted inputs and marginal productivity, namely change in output divided by change in weighted inputs.

     

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