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Productivity
Definitions

Productivity

EconomicsOnline • January 29, 2020 • 1 min read

Productivity – definition

Labour productivity can be measured as output per worker, or output per hour worked, where output is expressed as the ‘monetary value’ of the goods and services produced. It is a key economic indicator and shows how effectively labour is being used in an economy.

See also:


  • Productivity gap


  • Productivity and supply-side policy



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