Question

3 difference between national income and domestic income

Answer 1

National Income

national income includes the income of normal residents only (irrespective of their place of earning.

Domestic Income

domestic income includes the income of both residents and non-residents , within the domestic territory of the country.

I may not give all three differences but i can share a basic point ..

Answer 2

Factor income is the sum total of factor incomes generated by residents of a country, no matter where this income is generated either with in the domestic territory or in rest of the world. It does not include net factor income from abroad.