Production usually has various stages such as assembly, painting and packaging. Output is the final result ready to be sold. However, when you say 'we produced one thousand units last month' it means the same as 'our output last month was one thousand units.'''

'Production' is more specific. It generally refers to a quantity of goods/items/product that have been produced. Outputs can be more intangible, and also can be undesired things, such as the results of social policy, or pollution.

'Production' is more specific. It generally refers to a quantity of goods/items/product that have been produced. Outputs can be more intangible, and also can be undesired things, such as the results of social policy, or pollution.