How is economic growth related to productivity?

Productivity means Quantity of output produced by one unit of production input in a unit of time. For eg. a machine can produce 8 tons of output per hour. Economic Growth is the Value of output obtained with one unit of input. For eg. read more

Productivity and economic growth are closely linked because economic growth occurs when productivity increases to allow for such growth. Productivity occurs when various raw materials and other productive prerequisites, such as manpower and technology, are used to make some final product that is sold to and used by consumers. read more

Economic growth and productivity are directly related. The more productivity that there is in a nation, the more exponential that the economic growth will be. read more