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The input is not the cost of the hours worked, but the number of hours worked. Essentially, productivity measures the number of items a worker can produce per h
by Xylakant 4y ago
The input is not the cost of the hours worked, but the number of hours worked. Essentially, productivity measures the number of items a worker can produce per hour worked. Wage or cost doesn’t enter the equation.
- vba616 4y agoAs to what I wrote, the output is commonly measured in financial terms, isn't it? And in theory, the output is equal to one's income, or the value added. https://en.wikipedia.org/wiki/Gross_domestic_product https://en.wikipedia.org/wiki/Gross_domestic_product (Production approach vs Income approach)