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Productivity:Generally, productivity measures efficiency or effectiveness of productive effort. Productivity can be measured in several different ways. Physical productivity measures the actual amount of a service or good produced (for example tons of steel, or number of haircuts). Productivity can also be measured in terms of value of output. Most commonly, productivity is measured as the amount of output produced over a certain period of work (for example output per hour); this is considered a measure of labour productivity. Though other approaches are also possible, including measurements of capital productivity (output relative tothe value or physical quantity of invested capital) and ‘total factor productivity' (that is an abstract statistical measurement of the overall effectiveness of production)
What is the problem of central economic
Functions and Resources of the Bank The main functions of the Bank are as follows: • to assist in reconstruction and development of the territories of it member-governmen
limitations
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
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thoery explanation
What are the economies and diseconomics of scale?
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
1. Select a data series that you wish to forecast. Make sure that it has some importance to you relative to business, future occupation or other special interest. Obtain monthly or
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