Total Factor of Productivity
Glossary Page
The total factor of productivity refers to the ratio between the total output of a production unit and the total quantity of input factors used. It indicates how efficiently all production factors are used together to achieve the total output. A high total factor productivity indicates that a production unit can generate a larger quantity of output with the given resources. It is a measure of the efficiency and performance of the production processes of a unit.
http://wirtschaftslexikon.gabler.de/Definition/faktorproduktivitaet.html
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