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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.
Relationship between Marginal Product and Average Product. Marginal product is the increase in total product as a result of adding one more unit of input.(textbook definition.) Average product is the total product (or total output) divided by the quantity of inputs used to produce that total. (textbook definition.) Marginal product increases with the amount of workers you have when making a product. For each new worker you add to help make a product the amount of products you can make will increase by a fair amount but as the amount of workers you hire the amount of products will tend to get less and less.