what is the formula for determining productivity
The formula for determining productivity is:
Productivity = Output / Input
where:
- Output is the amount or value of goods or services produced
- Input is the amount of resources such as labor, capital, and materials used in production.
The formula for determining productivity is:
Productivity = Output / Input
In this formula, "Output" refers to the total amount or value of goods or services produced, while "Input" represents the resources used to produce those goods or services, such as labor, capital, or raw materials.