What Does "Productivity" Mean in an Economic Context?

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Productivity, generally speaking, is a measure relating a quantity or quality of output to the quantity of inputs required to produce it.  In economics, "productivity" without specific context usually means labor productivity, which is can be measured by the quantity of output per time spent or number of workers employed. (In macroeconomics, labor productivity or simply "productivity" is represented by Y/L.)

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Writing a Term Paper? Here are a few starting points for research on Productivity:

Books on Productivity:

  • Productivity, Technology, and Economic Growth
  • R&D and Productivity
  • Productivity, Innovation, and Economic Performance


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Econterms. "What Does "Productivity" Mean in an Economic Context?" ThoughtCo, Jun. 22, 2017, thoughtco.com/definition-of-productivity-in-economics-1147082. Econterms. (2017, June 22). What Does "Productivity" Mean in an Economic Context? Retrieved from https://www.thoughtco.com/definition-of-productivity-in-economics-1147082 Econterms. "What Does "Productivity" Mean in an Economic Context?" ThoughtCo. https://www.thoughtco.com/definition-of-productivity-in-economics-1147082 (accessed March 20, 2018).