Answer / h.r. sreepada bhagi

Joint Products refer to 2 or more products of significantly
equal value generated through the same process by using the
same inputs. Examples are Petroleum products, Milk products,
etc.
By products are the outputs incidental to the production
(generation) of a main product. Example, Bagasee in the
manufacture of Sugar or Gur. In other words a by product is
an output in the process of producing something else.

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