Productivity is a measurement of output resulting from the use of productive resources or inputs. It refers to the amount of output per unit of input over a period of time. An increase in productivity may mean producing the same amount with fewer inputs, producing more output with the same inputs, or a combination of the two. Companies look for ways to maintain and increase the level of productivity in order to remain competitive while maintaining profits. One way of accomplishing this is through investing in capital goods such as machines, tools, and new ideas used in the production process. Technological improvements in capital goods are a leading cause of increase in productivity.
After completing the following activities, you will develop a better understanding of the economics associated with productivity. In the first activity you will explore the concepts that are connected to productivity. In the second activity you will investigate the Herr's Potato Chips, a company that is constantly working at incorporating new techniques to satisfy the customer. Finally, in the third activity you will use the Internet to search for inventors and inventions. Your task is to find an invention that you would like to learn more about and learn how that invention improves its environment. After you complete all three parts to this lesson you will find a series of questions that will explore what you have learned from Capital Chips about productivity.
You are going to be a web hunter today. Your mission will be to use the sites provided to explore the requested concepts. Good luck on your mission!
First you will need to open the worksheet below.
|PDF Interactive Worksheet|
|PDF Print Worksheet|
Next you will use the list of on-line glossaries below to fill in definitions for each of the terms on the worksheet above. You will not find all the definitions at one site.
- "Economic Geography Glossary" : An online dictionary and glossary in economic geography.
- "AmosWeb Glossary " : This glossary defines a wide variety of economic terms, sometimes providing detailed explanations and diagrams.
- "Cambridge Dictionaries OnLine" : An online version of "Cambridge Dictionary."
- "Merriam Webster" : An online version of "Merriam Webster's Collegiate Dictionary."
- "Babylon-Pro" : A powerful translation, information and conversion tool, that instantly provides relevant information about any word or value you click on.
Once you have filled in the definition click on the terms on the PDF Interactive Worksheet to find out more about the terms.
When you are satisfied with your definitions print out your worksheet.
You have spent some time investigating the definitions of the terms on your worksheet. Now that you have these definitions you will be able to apply them to the activities in the following lessons