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The economics productivity is the output f value added by manufacture for each dollar of of input of payroll cost
Value added by manaufacture is the
The Rucker plan
-emphasizes employment involvement and measures productivity and provide monetary incentives to encourage employee participation.
-value added is the difference between the value of the sales prices of a product and the value of materials purchased to make the product.
-uses a value added formula (value added/total employment cost)
Value of sales price
Value of materials used
Total labor cost
-The larger ratios show that the value added is greater than the total employment cost