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1. Something produced by human or mechanical effort or by a natural process, as: a. An item that is made or refined and marketed: farm products; soaps, detergents, and similar products; travel products such as vacation trips. b. Such items considered as a group: sold a lot of product in May.
To calculate the average product, you need the total product. For example, the total product for a factory might be the number of widgets produced in a single day. You also need the input of labor, or quantity of workers, that achieved that level of production.o calculate the average product, you need the total product. For example, the total product for a factory might be the number of widgets produced in a single day. You also need the input of labor, or quantity of workers, that achieved that level of production.