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NOV  12, 2022

Economy Simplified

Basic of Economy 

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GDP vs GNP-What is the difference between GDP and GNP?

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GDP V/S GNP

Gross Domestic Product (GDP )

This is used to define the overall market value of goods and services generated in a given year.

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The market worth of the commodities produced is determined by the GNP or gross national product.

Gross National Product (GNP)

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GDP VS GNP

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GDP

GNP

Measures national production.

production that is obtained domestically.

production that is achieved by the citizens living in different nations.

Measures domestic production.

FOCUES

MEASURE

GDP VS GNP

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GDP

GNP

The contribution of the residents to the development of the economy

Local scale

International scale

The strength of the country’s economy.

Size of the Business

Highlights

What Distinguishes the GNP from the GNI?

The term “Gross National Product,” or GNP, was replaced by the new term “Gross National Income,” or GNI, in the 1993 System of National Accounts.

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When Is The GNP Better Than The GDP?

Gross National Product, often known as Gross National Income, is a measure of a nation’s people’ net foreign income

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GNP vs GDP: Which Is Better?

GDP- indicator of an economy’s overall productivity   GNP- Standard indicator of a nation’s economic output, but by the 1990s, it had lost favour.

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Conclusion: What is the difference between GDP and GNP?

GDP AND GNP Both evaluate the magnitude of an economy’s activity. To know the detailed study visit the below link

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