2. Copyright © Texas Education Agency, 2011. All rights reserved.2 “Copyright and Terms of Service Copyright © Texas Education Agency. The materials found on this website are copyrighted © and trademarked ™ as the property of the Texas Education Agency and may not be reproduced without the express written permission of the Texas Education Agency, except under the following conditions: 1)Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from the Texas Education Agency; 2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only without obtaining written permission of the Texas Education Agency; 3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way; 4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from the Texas Education Agency and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty fee.

3.  Give an example of productivity.  Who/what do you associate with productivity?  Why is it important to understand productivity? Copyright © Texas Education Agency, 2011. All rights reserved. 3

4.  The amount of output (goods and services) produced per unit of input (productive resources) used.  Why is it important to measure productivity? 4 Copyright © Texas Education Agency, 2011. All rights reserved.

5.  The basic kinds of resources used to produce goods and services: - land or natural resources - human resources (including labor and entrepreneurship) - capital 5 Copyright © Texas Education Agency, 2011. All rights reserved.

6.  The act, process or result of manufacturing or refining something. 6 Copyright © Texas Education Agency, 2011. All rights reserved.

7.  The quantity and quality of human effort available to produce goods and services.  What is the impact of labor specialization? 7 Copyright © Texas Education Agency, 2011. All rights reserved.

8.  An arrangement in which workers perform only one step or a few steps in a larger production process (as when working on an assembly line).  What are the advantages of the division of labor? 8 Copyright © Texas Education Agency, 2011. All rights reserved.

9.  A situation in which people produce a narrower range of goods and services than they consume.  How is specialization related to productivity? 9 Copyright © Texas Education Agency, 2011. All rights reserved.

10.  One who draws upon his or her skills and initiative to launch a new business venture with the aim of making a profit.  Who is the entrepreneur associated with productivity? 10 Copyright © Texas Education Agency, 2011. All rights reserved.

11.  A new idea or method.  How is innovation related to productivity? 11 Copyright © Texas Education Agency, 2011. All rights reserved.

12.  Create a flowchart of the production process  Improve the production process and revise the flowchart 12 Copyright © Texas Education Agency, 2011. All rights reserved.

13.  What factors can negatively affect productivity?  What factors can positively affect productivity?  How can productivity be improved? 13 Copyright © Texas Education Agency, 2011. All rights reserved.

14.  EconEd Link EconEd Link http://www.econedlink.org/lessons/index.ph p?lid=668&type=student 14 Copyright © Texas Education Agency, 2011. All rights reserved.