Basic Concepts Used in National. Income

GROSS NATIONAL PRODUCT (G.N.P) – This is the total money value of the goods and services produced in a country and real net earnings from abroad. 

NET NATIONAL PRODUCTS (NNP) – This is the gross national product after depreciation.

GROSS DOMESTIC PRODUCTS (G.D.P) – This is the total value of domestic goods and services produced within the country.

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