Productivity and Specialization

What is productivity?

• working on products

• goods that are produced

• amount of goods or services workers can produce in a period of time

What is the main goal for businesses?

• profit

• productivity

What would be an example of technology improving productivity?

• phones

• computers

• machines

What are three ways businesses can improve productivity?

• new workers,technology, money

• trained workers, technology, money

• trained and educated workers, equipment, technology

How do consumers benefit from companies being more productive?

• product is out faster

• the cost decreases

Why are educated and trained workers often more productive?

• because they think quicker and more efficient

• because they think quicker

• because they work quicker

Profits are the amounts of goods and services.

• True

• False

Productivity is profit.

• True

• False

Macroeconomics focuses on large-scale or general economic factors.

• True

• False

Trade-offs are the sacrifices you made when you made your choice.

• True

• False