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National Income Accounting — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNational Income Accounting3 Marks
Question
Distinguish between domestic product and national product.
✓

Answer

Sum of the value of final products that take place within the domestic territory of a country is called domestic product whereas the sum of contribution of residents of a country both within domestic territory or abroad is called national product.

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