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Net output |
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Net outputThe output of a product that is available for final users, after deducting amounts of it used up as an intermediate input in producing itself and other products. Contrasts with gross output.Similar MatchesOutput taxOutput taxThe amount of value added tax a company adds to the price of its product or service. Companies registered with Customs and Exercise for VAT have to charge VAT on their goods and services (with some exceptions). Every quarter they have to submit a VAT return which shows all their VAT outputs (where the company has received VAT from its customers) and all their VAT inputs (where the company has paid VAT on its purchases). If outputs exceed inputs, the company has to pay the different to Customs and Excise. If inputs exceed outputs, the company can claim a refund from Customs and Excise. Gross outputGross outputThe total output of a firm, industry, or economy without deducting intermediate inputs. For a firm or industry, this is larger than its value added which is net of its own intermediate inputs. For an economy, gross output is greater than net output, which deducts the amount of the good itself used as an intermediate input. OutputOutputThe service or product that a customer receives from a process. The output of one process can be the input to a succeeding process. Input-output tableInput-output tableA table of all inputs and outputs of an economy's industries, including intermediate transactions, primary inputs, and sales to final users. As developed by Wassily Leontief, the table can be used to calculate gross outputs and primary factor inputs needed to produce specified net outputs. Leontief (1954) used this to find the factor content of U.S. trade, generating the Leontief Paradox Output augmentingOutput augmentingSaid of a technological change or technological difference if one production function produces a scalar multiple of the other. Also called Hicks neutral. Further SuggestionsInput-outputInput output tables |
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