A product which is produced in the process of producing another product is known as a ______ product.

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Question 4:
A product which is produced in the process of producing another product is known as a joint product.
The correct option is B.

• Joint products are two or more products that are necessarily produced together from the same raw materials or production process. For example, when crude oil is refined, it yields petrol, diesel, kerosene, and other products simultaneously.
• By-products are a specific type of joint product, usually of lesser value, that are incidentally produced during the manufacturing of a main product. While "by" might hint at "by-product," "joint" is the more general and accurate economic term for products that are inherently produced together.
• Alternative products refer to goods that can be produced using the same resources, but not at the same time (e.g., a farmer can grow wheat or barley on the same land).
• Complementary products are goods that are consumed together (e.g., coffee and sugar).