TFP can refer to two different things: "Time for Print" and "Total Factor Productivity".
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Time for Print: This is a term used in photography to describe an arrangement between a model and a photographer. The photographer agrees to provide the model with a certain number of pictures from the session, and a release or license to use those pictures, in return for the models time. "Time" refers to each person's time spent during the photo shoot and "print" refers to a physically printed photo, usually on photo paper. Both the photographer and the model get together and exchange their time, for free, and each receives the photos for their own usage. Since photos can now be delivered by means other than printed, some variant wordings of this arrangement are time for CD or trade for CD (TFCD). With TFCD, the photographer provides the selection of images on a CD instead of prints. Similarly, with the ease and convenience of digital high-resolution images, the generic term TF* has evolved.
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Total Factor Productivity: This is an economic concept that measures the productivity or efficiency of a business or operation. It considers all the inputs associated with production, such as labor and capital, and calculates the ratio of aggregate output (e.g., GDP) to aggregate inputs. Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally measured inputs of labor and capital used in production. TFP is calculated by dividing output by the weighted geometric average of labor and capital input, with the standard weighting of 0.7 for labor and 0.3 for capital. Total factor productivity is a measure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs. It accounts for part of the differences in cross-country per-capita income. For relatively small percentage changes, the rate of TFP growth can be estimated by subtracting growth rates of labor and capital inputs from the growth rate of output.
