Agency

fiduciary relationship between two parties in which one (the 'agent') is under thecontrol of (is obligated to) the other (the 'principal') . The agent is authorized by theprincipal to perform certain acts, for and on behalf of the principal. The principal isbound by the acts of the agent, performed in carrying out entrusted duties and within the scope of agent's authority. An agency can be...
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Usage Example
Small Business Administration (SBA), a federal agency that was established in the 1950s to assist small businesses.
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Productivity

The amount of output per unit of input (labor, equipment, and capital). There are many different ways of measuring productivity. For example, in a factoryproductivity might be measured based on the number of hours it takes to produce a good, while in the service sector productivity might be measured based on the revenuegenerated by an employee divided by his/her salary.
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Usage Example
To increase productivity at the manufacturing plant, workers were given more breaks to allow workers to focus better while actually working.