What Is the Definition of Productivity

question 19

Multiple Choice

What is the definition of productivity?

• A)output produced per unit of input
• B)output produced by a combination of two or more inputs
• C)the cost of a unit of output
• D)a measure of input used
• E)the efficient use of technology

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Definitions:

Economic Order Quantity

The amount of inventory a company should order to minimize its total inventory costs, including holding and ordering costs.

Fixed Quantity Inventory

A stock management strategy where inventory levels are replenished to a specific, predetermined quantity at regular intervals.

Inventory Control

The management of inventory to ensure that the right quantity of supplies is available to meet demand without excessive surplus.

PERT Network Diagram

A project management tool used to schedule, organize, and coordinate tasks within a project, which stands for Program Evaluation Review Technique.