market output

They divide economic activities 'between those that produce marketed outputs and those which do not.

Or does the Guardian knowingly pay this guy to rewrite Microsoft's marketing output for them?

Vice versa, private industries which are heavily subsidised by governments have only partially marketed outputs.

Within five years there were over 4000 smallholders participating in the scheme, and their marketed output had increased by nearly three times over previous levels.

For instance, consumption in this latter sector C m fell from 56% of marketed output in 1961 to around 52% in 1969.

Prior to 1969, non-marketable consumption C n and investment In grew from around 34% of the value of marketed output in 1961, to around 37% in 1969.

They point to the remarkably slow growth in the share of the non-marketable sector in the value of marketed output, rising from around 31% between 1955 and 1960 to only 33% between 1969 and 1973.

They highlight the importance of the marketed sectors by pointing out that 'the marketed output of industry and services taken together must supply the total private consumption, investment and export needs of the whole nation.'

The success of this approach was reflected in a threefold increase in marketed output from 1953 to 1962 in the areas where land reform had been implemented, without a matching decline in the productivity of food crops.

Market output is defined as that which is sold for "economically significant" prices; economically significant prices are "prices which have a significant influence on the amounts producers are willing to supply and purchasers wish to buy."

As a result, although between 1969 and 1974 the share of the non-marketable sector in the value of marketed output continued to increase (from 37 to 44%), this time consumption by the marketable sector C m remained roughly constant at around 52%.

Although some farmers are adopting more intensive systems of production this is not yet at a fast enough rate to generate the large increases in marketed output necessary to feed the towns, where the population is growing at over 6 per cent per year.

Moreover, in these models, if the firms have different and non-constant marginal costs, a further source of inefficiency is that total market output will be produced at more than minimum total cost - the marginal costs of firms are not equalized at the equilibrium.

The Cournot Theorem then states that, in absence of fixed costs of production, as the number of firms in the market, N, goes to infinity, market output, Nq, goes to the competitive level and the price converges to marginal cost.