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Answer» Difference between domestic product and national product: | Sl. No. | Domestic Product | National Product | | i | Domestic product is the money value of all the final goods and services produced within domestic territory of a country during a financial year. | National product is the money value of all the final goods and services produced by the normal residents of a country during a financial year. | | ii | It includes the income of all the residents of the country. | It includes the income of only normal residents of the country. | | iii | Net factor income from abroad (NFIFA) is not included in it. | Net factor income from abroad (NFIFA) is included in it. |
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