Productivity

Productivity is a concept that’s widely misunderstood. The main reason is that we use the word productivity on a macro and micro scale. On the news, we read about workforce productivity, which is basically the aggregate output of all workers.

Based on the above, there are two types of productivity:

1. Workforce productivity: The total amount of goods and services workers produce in a certain period.

2. Personal productivity: The relevant output of an individual in a certain period.