Textbook Notes (368,802)
Canada (162,170)
MGTA02H3 (363)
Chapter 2

Chapter 2 - Study Guide

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Management (MGT)
Chris Bovaird

Chapter 2 Study Guide Productivity : A measure of efficiency that compares how much is produced with the resources used to produce it Productivity considers both the amounts and the quality of what is produced Quality: A products fitness for use in terms of offering that consumers want Labour Productivity of a Country = gross domestic product (GDP) Total number of workers Partial productivity ratio calculated by dividing GDP by total number of workers Productivity in among global competitors differs due to the various factors: technologies, human skills, economic policies, natural resources and even traditions Canadas competitiveness is a concern because we have been living off our rich diet of natural resources A country that improves its productivity increases its nations total wealth. Whereas, if productivity goesdown an increase
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