Differentiate between net and gross in about 2-3 points!!
Solution:
S.no | Net | Gross |
1. | Net value of any item is the amount that is calculated after taking some adjustments. For example Net Exports = Exports - Imports | Gross value of any item is the amount of the item without any adjustments taken into account. If 'Net' is not mentioned in the item, then it shows their gross amount. For example, Exports, Imports etc |
2. | Net concept is taken into account while calculating national income. | Gross concept is considered while calculating GDP. |