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Week 1 Discussion
Student’s Name
Institution
Question1: Research the construction industry to learn what the inputs are that are used by such a homebuilder to build homes (the homes are obviously the output that is being produced by the homebuilder). Be sure to include some inputs that are not strictly labor (in other words, include things that are pieces of equipment or resources other than people.
There are several inputs which are used for building a home would be materials or supplies as wood, siding, cabinets, nails, shingles, wiring and doors CITATION Ale15 \l 1033 (Murray, 2015). However, other items are dumpsters, designers, bulldozers, pumps and excavators are some of the equipment which was used as inputs.
Question 2: Give at least two examples of what a partial productivity statistic would be for some of the inputs that you identified
A partial output statistic for inputs would be the shingles and dumpsters. If the project makes a mistake to miscalculate the resources which are available, he or she would face a serious lack of output or delay in time. However, no dumpsters would cause any kind of delay of the project because they are not involve anywhere in the construction project.
Question 3: Give an example of something that would cause the partial productivity of a particular input to be reduced.
Partial productivity can be a measure of solution and therefore, can be used to determine the overall production. The increase in labor, using quality materials or equipment higher than previous materials can result to high production. However, the reduction of certain productivity input can be caused by increase of the cost of input. The capital investment on each input has directly effect on the output. Therefore, when the cost of a particular input increases during constructions process, the capital investment on the construction equipment would increase and this will have direct impact on the productivity.
Question 4: Give an example of something that could be done to improve the partial productivity of some particular input.
The improve productivity of a particular input, cost must be factored in. The total cost of expenses incur for a particular input must be review and this will help even to improve the overall productivity of a project. The partial productivity can be improved by increase the labor. In construction industry labor is an essential factor, which success of every component relies on CITATION Mar14 \l 1033 (Terry, 2014). Therefore, investment on compete and skill labor would improve the productivity of a particular input.
Question 5: Describe how the overall productivity of the homebuilder would be calculated. In other words, how could the total productivity of all inputs be incorporated in a total productivity calculation?
The overall productivity would be calculated based on the cost of production subtract the value of the price.
References
BIBLIOGRAPHY Murray, A. (2015). Partial versus Total Factor Productivity Measures: An Assessment of their Strengths and Weaknesses. Centre for the Study of Living Standards , 2-18.
Murray, A. (2015). Partial versus Total Factor Productivity Measures: An Assessment of Their Strengths and Weaknesses. International Productivity Monitor , 2-15.
Terry, M. (2014). Operations Management Defined. Measuring productivity growth in construction , 2-15.
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