Title: Explain productivity and its effects on individual businesses and the economy as a whole.
Course: Strategic Marketing (12152) > Section: Understanding Economics

Explanation should include

- ways to measure productivity
- the importance of increased productivity
- types of productivity measured (e.g., employee, business, industry, national)
- ways to increase productivity (e.g., training, technology, risk management, incentives)
- the effects of productivity on individual businesses and the overall economy.

Process/Skill Questions:

- What role does productivity play in a strong economy?
- How is productivity of marketing activities measured?
- What happens to a business when productivity declines?
- How can a business increase productivity?
- What effect does increasing or decreasing productivity have on profit?
- Why is it important for productivity to be measured and monitored?