Answer:
Productivity is the measure of output with respect to the input.
Total measure productivity is the measure of all the inputs such as labor, cost, capital and machines versus the output generated.
Partial measure productivity is the ratio which is widely used by many business. It measures relationship between output and input. It helps to identify the improvement in the relationship between output and input.
Multifactor productivity is the measure which enables the business to identify the amount of output generated with the amount of input used during the production process.
Explanation:
Productivity is the measure of output / input. This is essential for business success. The companies should measure the total productivity and partial productivity ratio in order to identify the improvement or deterioration in their production levels.
