Which Factor Is Not a Component in the Productivity Formula

question 22

Multiple Choice

Which factor is not a component in the productivity formula?

• A)Materials
• B)Output
• C)Labor
• D)Capital
• E)Input

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Definitions:

Postindustrial Economy

An economic phase in which manufacturing no longer plays a dominant role, often characterized by an increase in service and information-based industries.

Socialism

A political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods.

Capitalist Society

A socio-economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Programs

Planned series of activities or procedures designed to achieve a specific goal or purpose, often related to education, health, or social services.