Productivity

Definition

Productivity refers to the measure of output generated per unit of input (such as time, resources, or labor). It indicates how efficiently resources are utilized to produce goods or services.

Related terms

Efficiency: Efficiency measures how well resources are used to accomplish a task with minimal waste. It focuses on maximizing output while minimizing input.

Division of Labor: Division of labor involves breaking down complex tasks into smaller specialized tasks performed by different individuals or groups, increasing overall productivity.

Assembly Line: An assembly line is a manufacturing process where products move sequentially through various workstations, with each worker specializing in one specific task. This method significantly boosts productivity compared to individual craftsmanship.