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What does output mean?

Output is the end product: final product; the things produced.So the output of a bakery are the baked goods.


What is The finished product or waste that forms as a result or process is known as?

output


What is the difference between the marginal product and average product in terms of their impact on production efficiency?

The marginal product measures the change in output when one more unit of input is added, while the average product measures the total output divided by the total input. The marginal product is important for determining the efficiency of production at the margin, while the average product gives an overall picture of efficiency.


Difference between actual output and potential output of an economy?

Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!


What is marginal output?

The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.


Gross domestic product GDP measures and reports output?

Gross domestic product GDP measures and reports output in the local currency. This is one of the ways of measuring the economy of a country.


What is difference between output and outcome in non government organization sectoe?

The difference between output and outcome is that , output is the product or service that comes out of a process and outcome is the net result of that output to the organization.


What is product efficiency?

Product efficiency refers to how well a product performs in relation to the resources required to produce it. It measures the output achieved per unit of input. A highly product-efficient product maximizes output while minimizing resource use, resulting in cost savings, reduced waste, and improved competitiveness.


What is markets in which firms sell their output of goods and services?

The product market is the market in which firms sell their output of goods and services.


How might the output change?

Output might change due to amount of product being used. Output might change due to temperature or rate of acceleration as well.


What bits of information is NOT relevant to figuring the percentage of photosynthesis output that humans consume?

efficiency of solar panels


The marginal product of labor can be defined as?

change in output/change in labor.