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Productivity is an average measure of the efficiency of production. It can be expressed as the ratio of output to inputs used in the production process, i.e. output per unit of input. When all outputs and inputs are included in the productivity measure it is called total productivity. Outputs and inputs are defined in the total productivity measure as their economic values. The value of outputs minus the value of inputs is a measure of the income generated in a production process.
Productivity is the term used to describe the efficiency of a production process. It is usually expressed as a ratio thus: ............................. value of useful outputs realised. Productivity ... = ... -------------------------------------------............................ . cost of resource inputs used.Stated in this way productivity is a dimensionless quantity, useful to business managers mainly as a baseline for inter-period comparison.roductivity ... = ... -------------------------------------------. ........................... . cost of resource inputs used. Stated in this way productivity is a dimensionless quantity, useful to business managers mainly as a baseline for inter-period comparison.