Output

In economics, output refers to the total quantity of goods and services produced by an economy, industry, or company over a specific period. It is a critical measure of economic activity and is used to gauge productivity, efficiency, and economic growth. Output can be measured in physical terms (e.g., the number of units produced) or in monetary terms (e.g., the value of goods and services produced).

Example

A car manufacturer’s output for the year consists of 1 million vehicles produced, reflecting the company’s production efficiency and capacity utilization.