CONSIDERATIONS REGARDING DIFFERENT APPROACHES TO MEASURING LABOR PRODUCTIVITY

Assessing the productivity of factors of production has been a key issue for economists for many decades, as the development and well-being of a govenrment sector, industry or company have been very early on linked to the way in which inputs are used in order to produce outputs. In this respect, the main aim is to use the available (and often scarce) resources (human, material, capital, information etc) in the most efficient and effective manner as to generate the most output; in othr words, to optimize te use of resources in order to produce the desired results.