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:
“One definition of man is “an intelligence served by organs.””
—Ralph Waldo Emerson (1803–1882)
“I’m beginning to think that the proper definition of “Man” is “an animal that writes letters.””
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“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)