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Labor Productivity Is Measured as Total Labor-Hours Divided by Total

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Labor productivity is measured as total labor-hours divided by total output.
Labor productivity is measured as total output divided by total labor-hours.


Definitions:

Small Businesses

Enterprises that operate on a smaller scale compared to larger corporations, often characterized by limited revenue, personnel, and operations.

Employ

To hire or use the services of individuals as workers in exchange for compensation.

Start-Up

A new venture that is trying to discover a profitable business model for future success.

New Venture

An entrepreneurial endeavor that entails the creation and establishment of a new business or enterprise.

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