Productivity Is Defined as the

question 156

Multiple Choice

Productivity is defined as the

• A)amount of goods and services produced from each unit of labor input.
• B)number of workers required to produce a given amount of goods and services.
• C)amount of labor that can be saved by replacing workers with machines.
• D)actual amount of effort workers put into an hour of working time.

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Definitions:

FOB Shipping Point

A term used in shipping that indicates that the buyer is responsible for the cost and risk of transport as soon as the goods are loaded onto the shipping vehicle.

Freight Costs

Expenses associated with transporting goods from one place to another, which could include shipping, trucking, and other logistical expenses.

Operating Expense

Expenses incurred through normal business operations, such as rent, utilities, and payroll, exclusive of cost of goods sold.

Refund Liability

An obligation recorded by a business to return funds to a customer for returned or unsatisfactory goods or services.