Question

difference between GNP and GDP?? (PLS ANSWER IN SIMPLE WORDS. DON'T JUST COPY FROM GOOGLE OTHERWISE ANSWER WILL BE REPORTED)

Answer 1

Answer:

Full form of GNP is Gross National Product. GNP represents the total value of goods and services produced by the residents of a nation during a financial year and

Full form of GDP is Gross Domestic Product. GDP measure to determine the size of the economy of our nation.

Answer 2

Answer:

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Explanation:

Gross domestic product (GDP) is the value of a nation's finished domestic goods and services during a specific time period. A related but different metric, the gross national product (GNP), is the value of all finished goods and services owned by a country's residents over a period of time.

Both GDP and GNP are two of the most commonly used measures of a country's economy, both of which represent the total market value of all goods and services produced over a defined period.