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GNP vs GDP
Differences - Coggle Diagram
GNP vs GDP
Differences
(GDP) Definition
Gross national product is GDP plus net factor income from abroad which is calculated by adding up the value of goods and services produced by the citizens' production factors.
(GDP) Definition
GDP stands for Gross Domestic Product which calculates the amount of the value of goods and services in a country produced by factors of production belonging to citizens and foreigners living in the country.
Task: After you comprehend the GNP concept and identify the difference between GNP and GDP, let's do a fun learning session by making a mind map about these topics.
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(GNP) How It Work:
GDP plus net factor income from abroad which is calculated by adding up the value of goods and services produced by the citizens' production factors
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(GDP) How It Work:
Calculates the amount of the value of goods and services in a country produced by factors of production belonging to citizens and foreigners living in the country.