s Question Completion Status: O b. facilities. O c. crude oil. O d. computer equ

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s Question Completion Status: O b. facilities. O c. crude oil. O d. computer equipment. O e machinery QUESTION 14 Productivity can best be described as O a the average level of output per worker per year O b. a country's total output Oc the efficiency of a company's operations O d. the average level of output per worker per hour. Oe. economic growth in a country QUESTION 15 A medium-sized hardware manufacturer wants to become deeply involved in exporting, but it does not of its products overseas. The company wants to maintain control over its sales while gaining experienc would be best for this company? a. Selling its products outright to an exportimport merchant b. Establishing its own sales offices in foreign countries Ctick Save and Submit to save and submit. Click Save All Answers to save all answers

Explanation / Answer

Productivity is defined as the output produced per unit of input. The output can be measured relative to different types of inputs viz. labour, capital, material, energy etc. The productivity is a broader term that includes not only efficient methods of doing the work, but also maximising meaningful output per unit of input. The examples of productivity are units peroduced by a worker in a day or output per spend of a dollar or output per unit of electricity used. The overall measure is defined by the combined effects of all factors,i.e. multifactor productivity. Efficiency is different from productivity,as it is a smaller measure, which counts more on quantity rather than quality, For an example, one may work continuously for five hours to produce 5 units of product, 4 of which are of first quality, while the other produces the same unit in five hours while taking one hour break, all five units being equally good. The first worker may be more efficient than the first, but less productive than second.

In view of the definition the most relevant option is d, the average output per worker per hour.

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