Productivity, types of productivity, productivity index, total productivity
Whats is productivity?
Productivity is the ratio of output to some or all of the resources used to produce the output.
Types of productivity
We can mention the following types of partial productivities:
- Labor productivity: units produced / hours worked
- Capital productivity: output / capital input
- Material productivity: output /material input
What is the productivity index?
We can calculate a type of partial productivity as labor productivity as output per man hours for a complete year. These figures obtained from year to year can be indexed and can be related to a base year so that output per man our comparisons can be made.
Definition of total productivity
It is the ratio of tangible output and tangible input.
Differences among partial productivity, total factor productivity and total productivity
Men, materials, machines, methods, money, energy, etc. are inputs.
- Partial productivity: output / one class of input
- Total factor productivity: net output / (labor + capital)
- Total productivity : sum of all tangible outputs / sum of all tangible inputs