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| 1. |
Distinguish between domestic product and national product . |
| Answer» SOLUTION :Domestic PRODUCT includes production only within domestic territory.. That can be DONE by either resident or non resident companies but has to be within domestic territory of a COUNTRY WHILENational product includes production done by only RESIDENTS OF A COUNTRY, NOT necessarily WITHIN ITS DOMESTIC TERRITORY.. that is it can be even outside the domestic territory of a country.. But only by RESIDENT OF THE COUNTRY | |