Distinguish between:
Net national product and Net domestic product.
Basis
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Net National Product (NNP)
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Net Domestic Product (NDP)
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1. Definition
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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.
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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.
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2. Net factor Income from abroad
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It includes the net factor income from abroad.
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It excludes the net factor income from abroad.
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