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In economics, output is the quantity and quality of goods or services produced in a given time period, within a given economic network,[1] whether consumed or used for further production.[2] The economic network may be a firm, industry, or nation. The concept of national output is essential in the field of macroeconomics. It is national output that makes a country rich, not large amounts of money.[3]
- ^ Alan Deardorff. output, Deardorff Glossary of International Economics.
- ^ Paul A. Samuelson and William D. Nordhaus (2004). Economics, 18th ed., under "Glossary of Terms."
- ^ H.L Ahuja (1978). Macro-development economics: an analytical approach.