Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

what to respond to this statement The concept of labor productivity measures the output produced per unit of labor, often quantified as output per hour

what to respond to this statement The concept of labor productivity measures the output produced per unit of labor, often quantified as output per hour worked. Examples of factors that contribute to labor productivity are advancements in technology (improved manufacturing efficiency). Training and education (this makes skills for working better) and capital (access to tools that are of higher quality improve output). These would all help. For example, a factory that has more cutting-edge machinery will most likely have increased production rates. This shows how technology contributes to labor productivity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management And Organisational Behaviour

Authors: Laurie Mullins

7th Edition

0273688766, 978-0273688761

Students also viewed these Economics questions

Question

Where is the position?

Answered: 1 week ago