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Difference between national income and domestic …

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Difference between national income and domestic income

Posted by Pranjal Kumud 3 years, 9 months ago

CBSE > Class 12 > Economics

2 answers

Sia ? 3 years, 9 months ago

National income is the sum total of factor incomes earned by normal residents of a country during a given year. Domestic income is the sum total of factor incomes generated within the domestic territory of a country. Market price includes the impact of indirect taxes, but not of subsidies.

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Jyotsana Arora 3 years, 9 months ago

Domestic Income- income earned within the domestic territory of a country by its residents and non residents National income - income earned within the domestic territory of a country or outside the domestic territory of the country by its residents

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