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    Partial Productivity

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    A construction supervisor for a large homebuilder is interested in seeing whether there are ways of improving the profitability of the company by making better use of the people and equipment that are used to construct homes.

    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 do not strictly labor (in other words, include things that are pieces of equipment or resources other than people).

    Give at least two examples of what a partial productivity statistic would be for some of the inputs that you identified.

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    Solution Preview

    The U.S construction industry consists of homebuilders such as Toll Brothers, Beazer Homes, and Capital Pacific Homes, etc. The Web site for Home Builders Market Report (2014) stated,

    "The Home Builders industry is in a mature stage of its life cycle. Industry value added (IVA), which measures the industry's contribution to the overall economy, is forecast to grow at an average annual rate of about 7.9% in the 10 years to 2019 while US GDP is forecast to rise at an average annual rate of 2.5%" ...

    Solution Summary

    Improving the profitability of a company by making better use of the people and equipment that are used to construct homes.

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