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The following list of countries by labour productivity ranks countries by their workforce productivity. Labour productivity can be measured as gross domestic product (GDP) or gross national income (GNI) generated per hour.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Overall labor effectiveness (OLE) is a key performance indicator (KPI) that measures the utilization, performance, and quality of the workforce and its impact on productivity. Similar to overall equipment effectiveness (OEE), OLE measures availability, performance, and quality.
The former, as it produces a value, may be called productive; the latter, unproductive labour. Thus the labour of a manufacturer adds, generally, to the value of the materials which he works upon, that of his own maintenance, and of his master's profit. The labour of a menial servant, on the contrary, adds to the value of nothing.
The law of diminishing returns (also known as the law of diminishing marginal productivity) states that in productive processes, increasing a factor of production by one unit, while holding all other production factors constant, will at some point return a lower unit of output per incremental unit of input.
Labour markets are normally geographically bounded, but the rise of the internet has brought about a 'planetary labour market' in some sectors. [4] Labour is a measure of the work done by human beings. It is conventionally contrasted with other factors of production, such as land and capital.
The value of labour power is thus a historical norm, which is the outcome of a combination of factors: productivity; the supply and demand for labour; the assertion of human needs; the costs of acquiring skills; state laws stipulating minimum or maximum wages, the balance of power between social classes, etc.
In foundation-tier papers, pupils can obtain a maximum grade of a C, while in a higher-tier paper they can achieve a minimum grade of a D. Higher-tier candidates who miss the D grade by a small margin are awarded an E. Otherwise the grade below E in these papers is U. In untiered papers pupils can achieve any grade in the scheme.