Question

Three commonly used productivity variables​ are: A. ​quality, efficiency, and low cost. B. ​technology, raw​ materials, and labor. C. ​education, diet, and social overhead. D. ​quality, external​ elements, and precise units of measure. E. ​labor, capital, and management.

Answer 1

Answer:

E. Labor, capital and management

Explanation:

Productivity refers to efficiency in production which means how much output is produced for available level of inputs. It is measured by output/input ratio.

The variables which determine productivity are labor, capital and management.

Capital refers to the amount of investment an entrepreneur makes in a project. Capital invested determines the resources available.

Labor refers to men employed to produce output. Labor cost refers to the wages paid.

Management refers to carrying out operations effectively so that all factors of production work in synchronization and to ensure that everything is in order.