Asked by
Michael Roche
on Nov 01, 2024
Verified
The total of all outputs produced by the transformation process divided by the total of the inputs is
A) utilization.
B) greater in manufacturing than in services.
C) defined only for manufacturing firms.
D) multifactor productivity.
E) effectiveness.
Transformation Process
The series of actions or operations that convert inputs into outputs in manufacturing or service delivery.
Multifactor Productivity
An efficiency measure that evaluates the output produced relative to a combination of input factors like labor, materials, and capital.
Inputs
Resources used in the production process, including raw materials, labor, and capital.
- Acquire an understanding of the concept of productivity and strategies for its advancement.
Verified Answer
MV
Learning Objectives
- Acquire an understanding of the concept of productivity and strategies for its advancement.