Total factor productivity equals ________.
raw materials divided by labor costs
all inputs divided by outputs
outputs divided by all inputs
Total factor productivity is a measure of an organization’s efficiency that looks at how well
an organization utilizes all of its resources—such as labor, capital, materials, or energy—to
produce its outputs.
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 14-04 Explain why achieving superior efficiency is so important.
Topic: Outputs
In measuring the total factor productivity of an organization, which of the following is an
example of the contribution of the raw materials to output production?
Number of tons of iron ore required to make one ton of steel
Total number of units of energy consumed
Number of man hours required to process raw materials
Total number of employees required to operate the machinery
In defining total productivity, the contribution of materials is measured by the amount
consumed (for example, tons of iron ore required to make a ton of steel).
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation