Productivity Is Best Defined as the

question 11

Multiple Choice

Productivity is best defined as the

• A) success rate of the efforts to prevent defects in a firm's goods or services.
• B) amount of results an organization gets for a given amount of inputs.
• C) statistical representation of the effectiveness of a quality-control method.
• D) organization-wide focus on satisfying lifelong customers.

---

Definitions:

Purely Competitive Firm

A firm that operates in a market where there are many buyers and sellers, all products are identical, and there are no barriers to new firms entering the market.

Vertical Axis

The “up-down” or “north-south” measurement line on a graph or grid.

Marginal Revenue

The financial gain from disposing of one extra unit of a product or service.

Average Revenue

The amount of income generated per unit of sale or the total income divided by the number of units sold.