MGTA02H3 Lecture Notes - Lecture 7: Future Shop
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MGTA02H3 Full Course Notes
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Document Summary
Productivity: explained & defined, some common measures, why it"s important. Quality: explained & defined, why it"s important. Productivity: defined: productivity: a ratio that compares: Measures of productivity: measures of productivity are ratios. National productivity: a measure of how productive an economy is gdp (capita, a country can be productive when it has plentiful, high quality factors of production that are used effectively. Real gdp per person/capita: real gdp divided by population, better measure of material well-being than nominal and real gdp, a country with higher gdp and large population might not fair well in this calculation, eg. Natural resources: clean water, fertile soil, oil, gold, natural forests, preserved eco-systems. Labour: healthy, well-educated, well-trained, canada has highest post secondary education participation among oecd countries. Capital: good transport, good communication, good finance system. Game of resources: according to calculated estimates, canada possesses over 8% of world"s fresh water reservoirs, in turn, canadians are not very careful in water consumption.
