The value of goods and services produced within the geographical boundaries of a nation in a financial year is termed as GDP.
The value of goods and services produced by the citizens of a nation irrespective of the geographical limits in a financial year is known as GNP.
GDP measures only the domestic production.
GNP measures only the national production.
Example of GDP:The goods and services that are being produced outside the economy are excluded.
Example of GNP:The goods and services that are produced by the foreigners living in the country are excluded.
Explanation:
Hope it helps❤️
