The Productivity Ratio Used as a Partial Operational Productivity Measure

question 6

Multiple Choice

The productivity ratio used as a partial operational productivity measure is calculated as follows

• A)Output/Input.
• B)Input/Output.
• C)Input/Costs.
• D)Input/Sales.

---

Definitions:

Price of Labor

The wage rate or compensation given to workers for their labor, typically expressed per hour or year.

Isocost Line

A graphical representation in economics showing all combinations of inputs that have the same total cost.

Price of Capital

The cost of using financial assets for production, often reflected in interest rates or rents.

Total Cost

The combined total of expenditures related to the creation of goods or the provision of services, covering both stable and changeable costs.