Productivity is the index that reveals the efficiency of the production process when combining at least two production factors.
Productivity, in economics, measures output per unit of input, such as labor, capital or any other resource – and is typically calculated for the economy as a whole, as a ratio of gross domestic product (GDP) to hours worked. Labor productivity may be further broken down by sector to examine trends in labor growth, wage levels and technological improvement. Corporate profits and shareholder returns are directly linked to productivity growth.
Investopedia
Productivity is the main source of economic growth. Productivity of a country is a very common thing that economists compare between countries because its standard of living depend almost entirely on its ability to produce goods easily.
The most common measure of productivity is labor productivity. Its growth comes from increases of capital available to each worker, the education and experience of the workforce and improvements in technology.
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