GDP and GNP ????

Question

Can you explain what these mean in layman's terms for someone without a clue...in the simplest way possible so a dummy could understand what they are, how they are calculated and what they mean for the country?? Thanks.

Answer 1

GDP = gross domestic product

GNP = gross national product

GDP is profit made by all companies inside a country

GNP is profit mady by all companies inside a country and also by their districts in other countries...