Question
Show the difference between $GDP$ and $GNP$.
| GDP | GNP |
| During fixed period, within the boundaries of a country, the total value of prepared commodities and services produced by the people of the country or foreigners is called $GDP$ | During a fixed period, the total monetary value of prepared commodities and services is called Gross National Product $(GNP).$ |
| The concept of $GDP$ is connected with the boundaries of the country or nation. | The concept of $GNP$ is connected with the ownership of factors of production |
| In $GDP,$ net income earned from foreign countries is not calculated. | $GNP$, net income from foreign countries is considered. |
| The concept of $GDP$ does not give true information of national income. | $GNP$ gives the true information of national income |
| In $GDP$, the idea of total production or income can not be made available. | In $GNP$, the idea of total production and income is available. |
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