Productivity refers to the efficiency with which goods and services are produced, typically measured as the ratio of output to input in a given period. It reflects how effectively labor, capital, and resources are utilized to generate economic value. Higher productivity indicates that more output is achieved with the same amount of inputs or that the same output is achieved with fewer inputs. Productivity can be analyzed at various levels, including individual, organizational, industry, or national levels. It is crucial for economic growth, competitiveness, and improving living standards. Factors influencing productivity include technological advancements, workforce skills, management practices, and resource availability.
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