Domestic product is the sum of value added by all the producers in the domestic territory of a country during a year. It means all value-added activities which are performed within the domestic territory would be included, whether this activity is done by the Indians or foreigners.
| Gross Domestic Product |
Gross National Product |
| Domestic product is the sum of value added by all the producers in the domestic territory of a country during a year, whether the value added is done by Indians or foreigners. |
National product is the sum of value added by the Normal residents of a country whether with in the domestic territory or out side the domestic territory |
| It is an Territorial concept because it define with the reference to domestic territory. |
It is an Economic concept because it define with the reference to productive efforts of Normal Residents. |
| It does note include Net Factor Income from Abroad. |
It includes Net Factor Income from Abroad. |
