National Income

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 • Gross National Product (GNP)- GNP is the total value of output (goods and services) produced and income received in a year by domestic residents of a country. It includes profits earned form capital invested abroad.

 • Gross Domestic Product (GDP)– GDP is total value of output (goods and services) produced by the factors of production located within the country’s boundary in a year.

 GDP=GNP- Net Income earned from abroad

 • Net National Product (NNP)– NNP is calculated by making some adjusted with regard to depreciation in GNP i.e.

 NNP = GNP- Depreciation

 • Net Domestic Product (NDP)– NDP is also arrived from GDP by making some adjustment with regard to depreciation.

 NDP = GDP- Depreciation

 • Per Capita Income (PCI)–Per Capita Income is an indicator to show living standards of people in a country. If real PCI increases, it is considered to be an improvement in the overall living standard of people. It is calculated by dividing the GDP by the size of the population.

 Per Capita Income = GDP/ Total Population of a Country

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