National Income — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsNational Income2 Marks
Question
Show the difference between $GDP$ and $NDP$.
✓
Answer
The market value of finished goods and services produced by citizen of a country or foreign citizen within the boundary of the country during a year is called gross domestic product.
The monetary value obtained after deducting depreciation from the market value of final goods and service produced by citizen of a country or foreign citizen within the boundary of the country during a year is called net domestic product.
$NDP$ of any country is less than its $GDP$.
$NDP$ shows the better measurement of economic situation than $GDP.$
In Transaction $GDP$ data is more useful than $NDP$ data.
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