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Workforce productivity

Econ Chapter 28 powerpoint

Subject: 
Economics
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economics
Economic growth
Business
Technology
macroeconomics
Manufacturing
Economic theories
Welfare economics
Productivity
Human capital
Workforce productivity
Production–possibility frontier
Labor

Economic Growth Economic Growth Economic growth refers to an increase in the total output of an economy. Defined by some economists as the increase of real GDP per capita. The production possibility curve and the AD/AS graph show the combinations of output that can be produced if all society?s scarce resources are fully and efficiently employed. The more efficiently they are used the more growth an economy experiences. Economic Growth Human Capital Human capital is the economic value that an employee provides to an employer. The greater the human capital, the better the opportunity for economic growth. Labor Productivity Labor Productivity is the real output per hour of work.

The function of an economy

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Economics
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economics
Microeconomics
Business
Economic theories
Economic systems
Factors of production
Productivity
Labour economics
Workforce productivity
Circular flow of income
Capitalism
The function of an economy

The function of an economy Economy ? the system that trying to solve the basic economics problems. There are different type of economy like household economy, local economy, the national economy, and the international economy. Economists distinguish three parts to the economics problems What, How and For whom. To solve the problems, allocating the scarce resources to people with unlimited wants, people will decide what to product to fulfil most of the needs and desire of people. There will be allocation in resource to different group of people in the society. People will also decide how to product, which we will discuss in the next few chapters like division of labour. People will organise the productions according to what the workers best at.
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