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Joint products are two or more products manufactured simultaneously through the same process. The common manufacturing costs are called joint costs. Each product has a significant market value. Example - Gasoline and Kerosene are joint products of crude oil refining.
On the other hand, a by-product has significantly lower sales value compared to the firm's main manufactured product. Therefore, it does not affect the decision to produce. Example - saw dust from lumber mills, bone from meat packing etc.
What else can I help you with?
How companies differentiate and position their product for maximum competitive advantage?
the companies differentiate and position their products as a competitive advantage through products,product packing,pricing,after sales services.
What is the most important by product of cotton?
The most important byproduct of cotton are these.Oil (Cooking)Machine OilFertilizerCandlesColor makingSoapFood for AnimalsThis all are the most important byproduct of cotton.
What factors differentiate a product and a service?
we can feel and touch the product as it is materialistic for example toothpaste coming to service it is not materialistic and we can only feel it example airtel
Differentiate Technology and Home Economics from Home Economics Technology?
technology is the product of science while home economics refers on study on how to plan life.
What is the between derived demand and joint demand?
Derived demand occurs when there is a change of customers' demand on particular product and produces have to buy new production equipment, which means that the change in consumer demand for a product affects demand for all firms involved in the production of that product. Joint demand has nothing to do with changing the production equipments. In this case, demand of the product depends on demand of its compliment. For example, demand on inc depends on demand on printers.
What is a byproduct of condensation of two molecules of glucose?
Sucrose product, water byproduct
Is ammonium nitrate product or byproduct?
Its a product if you using for agriculture or for explosive purpose but, a byproduct if we want to remove it out for waste water
What substance is the byproduct of photosynthisis?
There is only one byproduct. it is O2 gas.
What is called when something is produced in addition to the main product?
Byproduct
What is difference between joint product and by product?
joint product has a high price value whereas by-product has a low price value. joint products are 2 or more products simultaneously produced. whereas by-product is recovered incidentally
A byproduct or end product of the condensation of two molecules of glucose?
Water
What is product differenciation?
Product differentiation means to differentiate our product with other product. The best example is Nokia Mobiles and Samsung Mobiles.
How companies differentiate and position their product for maximum competitive advantage?
the companies differentiate and position their products as a competitive advantage through products,product packing,pricing,after sales services.
What is joint product?
This is a product that has the highest sales value from amongst a group of products that are the result of a joint production process.
Why is it necessary to dry your product after esterication?
Water will be the byproduct of esterification and hence the product should be dried (to remove water).
What by product you may get when compresses methane gas?
Any byproduct for pure methane.
What processes produce oxygen?
oxygen is a byproduct of photosynthesis in plants
