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Productivity is commonly defined as a ratio between the output volume and the volume of inputs. produce a given level of output. assessments. regulations on economic performance. productive capacity of economies. to gauge the position of economies in the business cycle and to forecast economic growth.
Therefore, output is usually measured as the market value of final output, which excludes intermediate products such as corn feed used in the meat industry. This output value may be compared to many different types of inputs such as labour and land (yield). These are called partial measures of productivity. Agricultural productivity may also be measured by what is termed total factor productivity (TFP). This method of calculating agricultural productivity compares an index of agricultural inputs to an index of outputs.