Question

The term "productivity"A,refers to the quantity of goods and services each unit of labor can produce.B,is seldom used by economists, as it is not important in any economic sense.C,refers to new technology.D,means the same thing as "utility."

Answer 1

Answer:

refers to the quantity of goods and services each unit of labor can produce

Explanation:

Productivity measures the efficiency of production. It calculates how much input is needed to produce output.

Productivity is high if each unit of labour produces more quantity of goods and services. Productivity is low if each unit of labour produces less quantity of goods and services.

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