April 2, 2023

What is economic productivity?

Economic productivity is a measure of how efficiently a country or business utilizes its resources to create goods and services. It is an important economic indicator that reflects the overall health of an economy and its ability to produce goods and services for its citizens. Higher productivity leads to more wealth and higher standards of living. It also indicates that a country or business’s resources are being used effectively to create the maximum amount of value from them. It is a key factor that can help in assessing the economic health of a country or business.