Why Is Productivity Important to Countries

question 97

Multiple Choice

Why is productivity important to countries?

• A) Productivity matters because it produces a higher standard of living.
• B) Greater productivity results in lower wages.
• C) Productivity increases supply and reduces demand for products.
• D) Productivity reduces taxation.
• E) None of these statements explains why productivity is important to countries.

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Definitions:

Managerial Skills

The capabilities and knowledge necessary for effective planning, organizing, directing, and controlling of an organization’s resources to achieve its objectives.

Organizational Hierarchy

A structured arrangement of jobs and departments within an organization, ranked according to levels of responsibility, authority, and status.

Leadership Process

The ongoing practice of influencing and guiding others towards achieving collective goals.

Leadership Skills

The ability to influence and guide individuals or groups towards the achievement of goals.