|
|
JOINT PRODUCT: One of two goods that are produced jointly using the same resource--that is, the production of one good automatically triggers the production of the other. Also termed by-products or complements-in-production, a noted example is the production of two goods--beef and leather--from one resource--cattle. Another joint product example is lumber and sawdust--both produced from a single tree.
Visit the GLOSS*arama
|
|

|
|
|
VALUE ADDED The increase in the value of a good at each stage of the production process. The "value" part of this phrase means the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. The "added" part means that resources have transformed the good in the course of production, to make it more valuable. A good that provides greater satisfaction has greater value.
Complete Entry | Visit the WEB*pedia |


|
|
|
On a typical day, the United States Mint produces over $1 million worth of dimes.
|
|
|
"How wonderful it is that nobody need wait a single moment before starting to improve the world." -- Anne Frank
|
|
ATO At The Opening
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|