Productivity refers to the measure of the efficiency of production in an economy or organization, specifically the rate at which goods and services are produced or delivered relative to the inputs used, such as labor, capital, and resources. It is often expressed as output per unit of input, illustrating how effectively resources are utilized to generate economic value. High productivity indicates that more output is being produced with the same amount of resources, while low productivity suggests inefficiencies in production processes. Productivity can be influenced by various factors, including technology, workforce skills, management practices, and organizational structure. It is a crucial concept in economics, business management, and workforce development, as it directly impacts profitability, economic growth, and overall competitiveness.
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