Production and productivity slideshare
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Production involves transforming raw materials into finished goods. Productivity measures the efficiency of production by considering how much output was produced relative to the inputs required. Labor productivity is calculated by dividing total output by the number of employees.
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Production and productivity slideshare
- 2. • Production is the transformation and conversion of raw materials or factors of production into finished goods.
- 3. • Productivity is a measure of the efficiency of the production process. It is not concerned about what is produced but how much was produced and how much input did the production require • to calculate labour productivity: Output number of employees