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Productivity is output per unit input.
Growth calls for greater productivity: getting more output per unit of input.
Productivity is calculated as the ratio of output per unit of work time.
Technically, it is the rate of output per unit of input, measured per worker or by the number of hours worked.
In contrast, American ethanol produces only 1.5 units of energy output per unit of input, but its inefficiency is underwritten by government subsidies and high tariff walls.
Energy conservation, a fact of life during the '70s, has also largely been abandoned — although Texas today uses energy more efficiently than it did decades ago, meaning that the state's economic output per unit of energy is far greater.
It may well be that hybrid form of farming may give you the best output per unit of sustainability, but the most money per unit may well come from total organic following the rule book and picking up a 50% premium for your product… On whether organic food can "feed the world": We have a 50% surplus of food, as we speak.
The selection of materials and development of tools and machines for each operation minimizes the amount of human effort required, maximizes the output per unit of capital investment, reduces the number of off-standard units produced, and reduces raw material costs.
Productivity is a measure of output per unit of input.
The objective function has been taken as the power output per unit total cost.
Similar(1)
The profit for each firm would be determined by multiplying their output and the per unit Market price.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com