c-charts is a process results in a few defects occurring in each unit of output.
What is output?
- Output is the unit of goods or services produced in a given period of time.
- For a firm that produces a good, the output may simply be the number of units of that good produced each period. Months or Years in production.
- The economic definition of output refers to the elements of production that go into the process of producing a particular good or service.
- Output in economics is the finished product or unit that is the result of combining all the elements of production.
- GDP (gross domestic product) is the most common measure of a country's economic output.
- Output is used to unit economic growth and is an important measure of macroeconomics.
- Performance can be used to compare the economic growth of a country at different times and see how the economy is doing.
- The output can also be used to compare one country to another for competition or trade purposes.
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