Improved labour efficiency can be measured by?

Assessment: JAMB UTME - Economics - 2002 Subject: Economics

Question 1 Report

Improved labour efficiency can be measured by?
Answer Details
Improved labor efficiency can be measured by an increase in the output-input ratio. This means that with the same amount of input (e.g., labor hours), the output (e.g., goods or services produced) is greater, which indicates that labor is being used more efficiently. On the other hand, a decrease in the output-input ratio would indicate that labor efficiency has decreased, meaning that more input is required to produce the same output. If the input-output ratio remains constant, it means that the same amount of input produces the same amount of output, which could indicate that labor efficiency has neither improved nor worsened. Finally, an increase in the input-output ratio would mean that more input (e.g., labor hours) is required to produce the same amount of output, which would indicate a decrease in labor efficiency.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning