Economic output

Economic output refers to the total value of goods and services produced by a country or region over a specific period, usually measured within a year. It reflects how well an economy is performing and is often quantified by metrics such as Gross Domestic Product (GDP). A higher economic output indicates a stronger economy, with more jobs, investments, and consumer spending, while a lower output may signal economic challenges. Essentially, it represents the overall productivity and health of an economy, influencing living standards and the ability to fund public services.