Distinguish between: Net national product and Net domestic product.

Distinguish between:

Net national product and Net domestic product.

Basis
Net National Product (NNP)
Net Domestic Product (NDP)
1. Definition
Net National Product refers to the value of all final goods and services produced by the normal residents of a country both within the domestic territory as well as outside the country.
Net Domestic Product refers to the total market value of all final goods and services produced within the domestic territory by normal residents as well as non-residents.
2. Net factor Income from abroad
It includes the net factor income from abroad.
It excludes the net factor income from abroad.

No comments: