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:
“Mothers often are too easily intimidated by their children’s negative reactions...When the child cries or is unhappy, the mother reads this as meaning that she is a failure. This is why it is so important for a mother to know...that the process of growing up involves by definition things that her child is not going to like. Her job is not to create a bed of roses, but to help him learn how to pick his way through the thorns.”
—Elaine Heffner (20th century)
“It is very hard to give a just definition of love. The most we can say of it is this: that in the soul, it is a desire to rule; in the spirit, it is a sympathy; and in the body, it is but a hidden and subtle desire to possess—after many mysteries—what one loves.”
—François, Duc De La Rochefoucauld (1613–1680)
“... we all know the wag’s definition of a philanthropist: a man whose charity increases directly as the square of the distance.”
—George Eliot [Mary Ann (or Marian)