<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> Productivity describes various measures of the efficiency of production . A productivity measure is expressed as the ratio of output to inputs used in a production process, i.e. output per unit of input . Productivity is a crucial factor in production performance of firms and nations . Increasing national productivity can raise living standards because more real income improves people's ability to purchase goods and services, enjoy leisure, improve housing and education and contribute to social and environmental programs . Productivity growth also helps businesses to be more profitable . There are many different definitions of productivity and the choice among them depends on the purpose of the productivity measurement and / or data availability . </P> <P> Productivity measures that use one class of inputs or factors, but not multiple factors, are called partial productivities . In practice, measurement in production means measures of partial productivity . Interpreted correctly, these components are indicative of productivity development, and approximate the efficiency with which inputs are used in an economy to produce goods and services . However, productivity is only measured partially--or approximately . In a way, the measurements are defective because they do not measure everything, but it is possible to interpret correctly the results of partial productivity and to benefit from them in practical situations . At the company level, typical partial productivity measures are such things as worker hours, materials or energy used per unit of production . </P>

By what term do we call the level of output generated by a given volume of inputs