productivity is the number of goods made by division of employees...
production is the number of goods made
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productivity is the number of goods made by division of employees...production is the number of goods made
In economics, efficiency and productivity relate to the making of products, both goods and services. Productivity represents the amount of output compared to the effort put into the production of that good. Efficiency on the hand means the amount of time spent in doing the same thing.
Output is total output. Productivity is out per man-year.
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Production refers to the volume, value or quantity of goods and services produced by a worker, plant, firm or economy. Its the sum total of the results achieved by the various factors together. Productivity, on the other hand, is concerned not merely with the total value or volume of output of product, what is more important is that it shows us the efficiency of the production. The difference between the two is when we find that all increases in production, does not necessairly result in increased productivity. If increase in total output is brought about with an increase in the input of factors of production, production will have increased, but productivity will only remain constant or low. Keeping all factors same, when we achieve higher output, then it is called increased productivity. Production refers to the volume, value or quantity of goods and services produced by a worker, plant, firm or economy. Its the sum total of the results achieved by the various factors together. Productivity, on the other hand, is concerned not merely with the total valur or volume of output of product, what is more important is that it shows us the efficiency of the production. The difference between the two is when we find that all increases in production, does not necessairly result in increased productivity. If increase in total output is brought about with an increase in the input of factors of production, production will have increased, but productivity will only remain constant or low. Keeping all factors same, when we achieve higher output, then it is called increased productivity. In fact Productivity refers to the quality of production. The clear definition of Productivity is the ratio of output to aggregate inputs. As per the International Labour Organization, the aggregation, if done in monetory terms, gives the exact value of productivity. A bit of common sense can tell that productivity is valued higher than one..as output should be more than all the inputs put together. However, it is not uncommon to hear the words labour productivity, material productivity etc. When such factors of production are referred with the word 'productivity', one has to understand that the evaluation of such factors with reference to production(output) is being done. In technical terms, we call them partial productivities. for example, Labour productivity means that the ratio of output to the corresponding labour input. This can be the out put achieved per man-hrs spent to get that output.
productivity is the number of goods made by division of employees...production is the number of goods made
Effeciency is production at a quicker than expected pace. Productivity is production at a higher volume than expected.
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Total productivity is the goal of any business or organization. This concept is possible only in theory. The highest possible partial productivity is actually the accepted practice.
A productivity, or capacity, gap is the difference between what a person can do and what that person actually does. The same principle applies to a work team, organization, and so on.