Diffrentiate between GDP and GNP
Gross Domestic Product is the sum total of market value of final goods produced by the three sectors WITHIN THE TERRITORIAL BOUNDARIES OF A COUNTRY.
Gross National Product is GDP + the market value of final goods produced by citizens of the same country BUT OUTSIDE THE DOMESTIC BOUNDARY OF A COUNTRY.
Gross National Product is GDP + the market value of final goods produced by citizens of the same country BUT OUTSIDE THE DOMESTIC BOUNDARY OF A COUNTRY.