Enhancing Productivity for Personal and National Benefits

🏭 Productivity is a measure of economic performance that indicates how efficiently inputs are converted into output.

⏱️ By rearranging her production process and developing skills, Beth increased her productivity by making two birdhouses each hour instead of one.

📈 Growth in productivity is measured by dividing the change in output by the change in inputs.

📈 Productivity is the measure of output over time by the change in inputs over time.

⏰ Increasing productivity means achieving the same output with fewer inputs, resulting in more free time.

💼 Improvement in overall productivity benefits both workers and businesses, leading to higher wages and profits.