The fundamental questions in a market economy are How is the output
to be produced?
A country's gross domestic product, also known as its output, is the sum of all the goods and services that the nation produced during a specific time period.
The phrase can be used to describe all the labor, effort, goods, or services that a person, business, factory, or machine produces.
It refers to any data that has been processed by and sent from a computer or other similar electronic device in the world of computing.
Everything we see on a computer screen is output.
In contracting, the term refers to the desired outcome of a contractor or project.
An output contract is an agreement in which all of a producer's production is sold to the buyer; both the producer and the buyer commit to selling and purchasing the entire production, respectively.
The Financial Times glossary of terms defines output as:
"The total amount of goods produced by a business, industry, or economy."
Until 1830, the term only referred to the iron and coal trades in the English language. In 1858, it began to take on the meaning of 'to produce' as a verb.
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