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Productivity Definition | Formula | Types & Example

By Richard Daniels Reading Time: 4 mins
Updated February 14, 2017
Productivity Definition & Formula

Productivity is an economic measure that calculates how many goods and services have been produced by each factor used (worker, capital, time, costs, etc.) in their obtaining in a given period of time. The objective of productivity is to measure the efficiency of production for each factor or resource used, meaning efficiency to obtain the […]

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