Productivity is defined by the formula of outputs divided by ______ for a specified period of time.Multiple choice question.laborinputsprocessescapital

Break Down the Problem

1. Identify the components of the productivity formula.
2. Determine which of the options fits the definition of productivity.

Relevant Concepts

• Productivity Formula: Productivity is generally defined as the ratio of outputs to inputs.
• Inputs in Productivity: Commonly include labor, capital, and processes, depending on the context.

Analysis and Detail

1. Outputs: These represent the goods or services produced.
2. Inputs: The resources used to produce these outputs.
   • Labor: Refers to the workforce contributing to production.
   • Capital: Involves tools, machinery, and equipment used in creating products.
   • Processes: The methods or systems through which production is carried out.

Verify and Summarize

Based on the definition of productivity, which is outputs divided by inputs, the appropriate answer aligns with labor, as it directly represents the effort expended to produce outputs.

Final Answer

The correct answer is labor.