Definition of «joint product»

In economics, a joint product refers to two or more products that are produced together in one production process. It is different from a byproduct, which is an unintended output of a production process. Joint products have separate values and can be sold separately. An example of this would be a paper clip factory producing both paper clips and metal scrap as joint products, where the metal scrap has value in addition to the primary product, paper clips.

Sentences with «joint product»

  • The two companies agreed last week to expand the scope of their collaboration and discuss new joint products in the technological development, vehicle production and market development fields. (motorbeam.com)
  • It can be used in conjunction with other joint products and veterinarian - prescribed products. (petbusiness.com)
  • How are dog joint products different from human joint supplements? (drsfostersmith.com)
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