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Productivity
The relationship between the quantity of inputs (land, labor, tractors, feed, etc.) employed and the quantity of output produced. An increase in productivity means that more outputs can be produced from the same inputs or that the same outputs are produced with fewer inputs. Both single-factor and multifactor indexes are used to measure productivity. Single-factor productivity indexes measure the output per unit of one input at the same time other inputs may be changing. Multifactor productivity indexes consider all productive resources as a whole, netting out the effects of substitution among inputs. Crop yield per acre, output per work hour, and livestock production per breeding animal are all single-factor productivity indicators. The Total Farm Output per Unit of Input Index is a multifactor measure.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Agriculture
- Category: Agricultural programs & laws
- Company: USDA
- Product:
- Acronym-Abbreviation:
Other Languages:
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