Updated: Aug 20, 2021

What is produced, by an individual firm, an industry, or the economy as a whole. See also gross domestic product; marginal product; national product; product differentiation; product innovation; product life cycle; staple product.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.