A plausible description — вероятное (правдоподобное) описание

17.7.1.5. Read the text “Productivity Analysis” and make a synopsis of it.

Productivity Analysis

A systematic survey of the market situation requires first of all the forecasting of such an important

Index as productivity.

By productivity we mean the relationship between the output of goods and services and the inputs of

Resources (factors of production) used to produce them. Productivity is usually measured by ratios of

Changes in inputs to changes in outputs using index numbers. For example, changes in labour productivity,

The most common measure, are measured by an index of man-hours divided into an index of

output. If the production index stands at 150 (1990 = 100) and the index of man-hours worked stands at

Then the labour productivity index stands at 120, i.e. labour productivity has increased by 20 per

cent over 1990 levels. This is known as a partial productivity index, and it does not, in fact, measure

Changes in the productivity of labour alone unless inputs of land and capital have remained constant.

The calculation of total factor productivity is difficult in practice since the proportions of the

Different factor inputs do not remain constant over time and their individual contribution to output

Change is difficult to disentangle. Comparisons between labour productivity in different sectors of