Widget (economics)

Widgets are products made by companies. Companies create widgets in order to sell them and make a profit. They spend money on buying the materials and machinery to make the widgets. They also pay workers to work on making the widgets, which costs money too. When a widget is sold, the company makes money that they can use to pay for the costs of making the widget and the rest they keep as profit. Profits are important to companies because they help them grow and create more jobs in the economy.