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Production refers to the volume, value or quantity of goods and services produced by a worker, plant, firm or economy. Its the sum total of the results achieved by the various factors together.
Productivity, on the other hand, is concerned not merely with the total value or volume of output of product, what is more important is that it shows us the efficiency of the production.
The difference between the two is when we find that all increases in production, does not necessairly result in increased productivity. If increase in total output is brought about with an increase in the input of factors of production, production will have increased, but productivity will only remain constant or low.
Keeping all factors same, when we achieve higher output, then it is called increased productivity.
Production refers to the volume, value or quantity of goods and services produced by a worker, plant, firm or economy. Its the sum total of the results achieved by the various factors together.
Productivity, on the other hand, is concerned not merely with the total valur or volume of output of product, what is more important is that it shows us the efficiency of the production.
The difference between the two is when we find that all increases in production, does not necessairly result in increased productivity. If increase in total output is brought about with an increase in the input of factors of production, production will have increased, but productivity will only remain constant or low.
Keeping all factors same, when we achieve higher output, then it is called increased productivity.
In fact Productivity refers to the quality of production. The clear definition of Productivity is the ratio of output to aggregate inputs. As per the International Labour Organization, the aggregation, if done in monetory terms, gives the exact value of productivity. A bit of common sense can tell that productivity is valued higher than one..as output should be more than all the inputs put together.
However, it is not uncommon to hear the words labour productivity, material productivity etc. When such factors of production are referred with the word 'productivity', one has to understand that the evaluation of such factors with reference to production(output) is being done. In technical terms, we call them partial productivities. for example, Labour productivity means that the ratio of output to the corresponding labour input. This can be the out put achieved per man-hrs spent to get that output.
What else can I help you with?
Why does an advance in technology increase supply?
because labor's or capital's productivity increases and costs of production fall
What are The buildings structures machinery and tools used in the production process called?
The buildings, structures, machinery, and tools used in the production process are referred to as "capital" or "physical capital." This encompasses all the tangible assets that contribute to manufacturing and production activities. These resources are essential for facilitating efficient operations and enhancing productivity within various industries.
Why was Mass Production Invented?
Mass production was invented to increase productivity. Mass production revolutionized the manufacturing industry. Interchangeable parts became easier to make, which lowered the cost of items, ultimately increasing the profit for both the company and the customer. Mass production is used on almost every item you use on a day to day basis, from the Starbucks cup in your hand to the computer on your desk to the car you drive to the pencil you write with to the clothes you wear... You get the point.
How mass production is usefull to us?
Mass production is beneficial as it allows for the efficient and cost-effective manufacturing of goods, leading to lower prices for consumers. It ensures consistent quality and availability of products, making everyday items more accessible. Additionally, mass production can drive economic growth by creating jobs and increasing output in various industries. Overall, it enhances productivity and contributes to the standardization of products.
What causes productivity to go up?
There are quite a few things that would cause productivity to go up. Efficiency is the number one factor affecting productivity.
Area Production and productivity of sapota in India?
area, production and productivity in sapota?
Area production productivity of strawberry in India?
area, production and productivity of strawberry in india
What is meant by labaur productivity and show how change in labor productivity may affect on economy production possibility curve?
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.
What is the difference between production and productivity?
Production refers to the process of creating goods or services, while productivity measures the efficiency of this production process by comparing outputs to inputs, such as labor or resources used. In other words, production is the act of making something, while productivity is a measure of how well and efficiently that something is made.
Chickpea area production productivity in India and maharashtra?
production of chichpea in maharastra
The production output in relation to a unit of input?
Productivity
What would happen to marginal and average productivity if a technological innovation were introduced to the production process?
Marginal and Average productivity increases when technological innovations are introduced into production process.
What is a intermittent production process?
Producing several different products on the same production line. After an initial production run has been made with one product, a second product will be produced, and so on. It allows maximizing productivity on the production line. allows maximizing productivity on the production line.
NOT a new method of production that improved productivity?
irondomestic system
What is productivity management?
Production is the producing of a single item such as beef production is the production of beef. Production management is managing what is being produced and when it goes for market.
What is management and productivity?
Production is the producing of a single item such as beef production is the production of beef. Production management is managing what is being produced and when it goes for market.
What is secondary productivity?
secondary production is the conversion of raw materials to finished products. this is the second stage of production.
