WELCOME TO OUR PRESENTATION

Presenter: MD. Nuruddin (107063)Co-presenter: Tasnuva Hassan (117060)

Other Group Members:Ripon Dutta (117078)Gulshan Ara (117079)Sanjida Afrin (107067)Nilufa Yasmin (117019)MD. Sumiul Islam (117091)Rahmat Ullah (117031)Tanjida Binta Yousuf (117047)Robel Ahmed (117046)MD. Shahjahan Hossain (117034)

Group-9

Group -9

Our Topic: Productivity of Labor

Definition of Productivity of Labor Importance of Labor productivity Relation between economy and Labor Productivity Gross Domestic Product of Bangladesh Circular flow for improving Productivity of Labor Affecting factors of Productivity of Labor Solution of affecting factors

Presentation Outline

Labor productivity is the rate of output per worker (or a group of workers) per unit of time as compared with and established standard or expected rate of output.

For example, suppose the real GDP of an economy is $10 trillion and the aggregate hours of labor in the country was 300 billion. The labor productivity would be 10 trillion divided by 300 billion equating about $33 per labor hour.

Definition of productivity of labor

www.Google.com

Labor costs are usually a significant part of total costs.

In order to remain competitive a business needs to keep its unit costs down.

Business efficiency and probability closely linked to productive use of labor.

Importance of Labor Productivity

Source: Pindyck, R. and D. Rubinfeld, Microeconomics, 5th ed. Prentice-Hall 2001.

The GDP(Gross Domestic Product) of a country depends greatly on the status of labor productivity for all business.

A healthy labor sector helps an economy sustain growth and encourages consumer spending as well as financial understand.

Observing the status of countries labor market can help our company to predict downturns so that we can avoid before being too large loss.

Relation between Economy and Labor Productivity

Source: Samuelson, W. and S. Marks, Managerial Economics, 4th ed. Wiley 2003.

Year GDP (lk tons) Year GDP (lk tons)

1964-65 93.32 1987-88 163.96

1969-70 107.27 1994-95 196.00

1974-75 101.07 1998-99 210.00

1977-78 118.57 2003-04 260.00

1984-85 145.00 2008-09 298.32

Table : Gross Domestic Product of Bangladesh

Source: Economic indicator of Bangladesh • Bangladesh Bureau of Labor Statistics

Circular flow for improving productivity

www.google .com

Physical-Organic , location and technological factors. Cultural belief value and motivational and

behavioural factors. International influence. Political environments. Level of flexibility.

Factors affecting Labor Productivity

Source: Nicholson, W. and C. Snyder, Intermediate Microeconomics, Thomson 2007, p. 215.

Providing skilled and motivational worker (or workers).

Better equipment and technology. Following methods of production organization. External factors (e.g. Reliability of suppliers)

SOLUTION OF FACTOR AFFECTING

Source: Binger, B. and E. Hoffman, Microeconomics with Calculus, 2nd ed. Addison-Wesley 1998

Nicholson, W. and C. Snyder, Intermediate Microeconomics, Thomson 2007, p. 215.

Binger, B. and E. Hoffman, Microeconomics with Calculus, 2nd ed. Addison-Wesley 1998.

Krugman, Paul, and Robin Wells (2009), Microeconomics 2d ed. Worth Publishers,

Nicholson, W., Microeconomic Theory, 9th ed. Thomson 2005. Nicholson, W. and C. Snyder, Intermediate Microeconomics, Thomson 2007, Perloff, J., Microeconomics Theory and Applications with Calculus, Pearson

2008 Pindyck, R. and D. Rubinfeld, Microeconomics, 5th ed. Prentice-Hall 2001. Samuelson, W. and S. Marks, Managerial Economics, 4th ed. Wiley 2003. Varian, Hal, Microeconomic Analysis, 3rd ed. Norton 1992.

References

THANK YOU FOR HAVING PATIENCE