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Correct Answer: B

Productivity is a result of the way a business operates — the way its people, business processes, functional units, and suppliers come together to meet the needs and wants of its customers. Productivity is the combination of intelligent planning and focused efforts, and hence it is a combination of efficiency and effectiveness.

Efficiency refers to doing things right — achieving maximum output with minimum input. Effectiveness refers to doing the right things — achieving the desired outcome or goal. Together, they define true productivity.