Definition
The result of an economic process that has used inputs to produce a product or service that is available for sale or use somewhere else.
Net output, sometimes called netput is a quantity, in the context of production, that is positive if the quantity is output by the production process and negative if it is an input to the production process.
Several different methods of measuring output are utilized.
Read more about this topic: Output (economics)
Famous quotes containing the word definition:
“Scientific method is the way to truth, but it affords, even in
principle, no unique definition of truth. Any so-called pragmatic
definition of truth is doomed to failure equally.”
—Willard Van Orman Quine (b. 1908)
“The man who knows governments most completely is he who troubles himself least about a definition which shall give their essence. Enjoying an intimate acquaintance with all their particularities in turn, he would naturally regard an abstract conception in which these were unified as a thing more misleading than enlightening.”
—William James (1842–1910)
“Was man made stupid to see his own stupidity?
Is God by definition indifferent, beyond us all?
Is the eternal truth man’s fighting soul
Wherein the Beast ravens in its own avidity?”
—Richard Eberhart (b. 1904)