Productivity the ratio between the output volume and the volume of inputs. This metric is important in an economic sense as a nation’s prosperity is linked to productivity. Similarly, a business’s performance is judged by improvements in productivity. Ultimately the base is the individual where productivity is a measure of efficiency of a person completing a task.
History shows that winners in nations, businesses or individuals are more productive than competitors. They improve their growth, profits or income. They can also adjust prices to be more attractive which fuels more growth, profit and income – the productivity loop.
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