Output (economics)

From Academic Kids

Output in economics is the total value of all of the goods and services produced in an entity's economy. It is a concept used in macroeconomics, or the study of the economic transactions of broad groups such as countries.

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. See Measures of national income and output.

See also

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