A measure of the amount of output produced by a given amount of inputs in a specific period of time is the definition of productivity.
One can think of output as the process of producing something, the quantity produced, or just the way something is dispersed. A power plant's output of electricity serves as an example of the output.
Productivity would be a gauge of economic success because it contrasts the number of items and services produced with both the number of inputs needed to produce similar goods as well as services.
Simply put, productivity would be a term used to describe how effective something is. It's the process of estimating the output from the given inputs in economics. Productivity is the term used to describe the amount of output produced per unit of input, either labor, or capital.
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