b

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School

American Military University *

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Course

501

Subject

Economics

Date

Nov 24, 2024

Type

txt

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Uploaded by jeffstone4life

Dr. MJ and Class, Productivity is usually the rate at which laborers produce products, provide services or complete their work, but Kenton (2023) explains productivity as output measurements per input unit regarding labor capital or other resources. Depending on the level, productivity can be measured by one’s production process efficiency or labor and employee outputs. There are multiple types of productivity, such as labor, land, capital, entrepreneurship, material, and total factor productivity. Kenton’s articles also discuss four components of an employee’s productivity: strategy, focus, productive choosing, and consistency. When relating this to transportation, there is a strategy on how the transportation industry will move forward regarding the different modes or just the infrastructure. When there is a plan in place, stay focused and stick to the task at hand regardless of what other factors may come up. Managers do this well by being able to choose the most important task and make the right decisions. If we focused on the labor factor of transportation productivity, one would find that the transportation industry has come a long way. The freight delivery of transportation is an input for other industries. If the cost of providing transportation decreases, other industries become more productive as well, which reduces business costs and brings savings to consumers. If the transportation industry is efficient and providers move people and goods, the value of their services grows more than the costs of the inputs they use (BTS). Let us look at how the transportation infrastructure has performed. The transportation industry is one of public capital stock’s most significant single components. The transportation infrastructure is frequently perceived to influence productivity more than other types of public capital (Baird). Transportation investment decisions are influenced and backed by the federal government by the federal transportation bill. Corey References Baird, B. A. (2005). Public infrastructure and economic productivity: a transportation-focused review. Transportation research record, 1932(1), 54-60. Chapter 5: Transportation Productivity. (n.d.). Bureau of Transportation Statistics, www.bts.gov/archive/publications/transportation_economics_trends_and_measurement_co ncepts/chapter_5/index. Accessed 30 Nov. 2023. Kenton, W. (2023)., What is productivity and how to measure it explained, Investopedia, https://www.investopedia.com/terms/p/productivity.asp#toc-what-is- productivity

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