Automation can make productivity figures misleading by increasing output without an equivalent increase in labor input, leading to inflated productivity numbers. On the other hand, labor-intensive tasks may artificially reduce productivity figures if time-consuming processes are not accounted for in the calculations. Additionally, automation can result in job displacement and lower employment rates, which may affect overall economic indicators beyond just productivity.
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
The plural of automation is automations. As in "the automations reduce the cost of human labour".
oWhat is the relationship between Marginal Productivity of Labour and Labour welfare
G.R Barker has written: 'Some problems of incentives and labour productivity in Soviet industry' -- subject(s): Labour productivity
When productivity changes, it affects the productive capacity of an economy. Labour, as an input in production, helps to determine total output produced. When labour productivity falls,that is ouput per labour per decreases goods then total production falls. The PPP (also known as the PPF) moves inward to represent the fewer production choices available. When labour productivity increases, the curve shifts outward to represents increased production and production choices.
total output / units of labour or capital
Labour productivity is defined by the OECD to be "the ratio of a volume measure of output to a volume measure of input" OECD Manual: "Measuring Productivity; Measurement of Aggregate and Industry-Level Productivity Growth. Labour productivity is important to economic growth because without it no one would be working.
Peter Otto Steiner has written: 'Productivity' -- subject(s): Labour productivity
Marginal labour productivity.
The purpose of a business software automation is to speed up the business transactions and processes in order to reduce cost, minimise labour and man power by automating the system.
competition; growth; technology; productivity; labour market; government laws and rules.
Clifford Frederick Pratten has written: 'Labour productivity differentials within international companies' -- subject(s): Labor productivity, International business enterprises