difference GNP and GDP, and developing and developed nations

Gross National Product (GNP) is the total value of all final goods and services produced within a country’s boundary regardless of the nationality of the producer. Whereas Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country’s boundary, regardless of the nationality of the producer, and the distribution of income among domestic factors of production. Developed nations are countries that have advanced economic and social systems. In most cases, these countries have well-developed infrastructure, a relatively high level of economic diversity, and a strong population base of educated and highly skilled workers. Developing nations, on the other hand, are countries with relatively low levels of economic and/or social development. These countries usually have higher levels of poverty, less educated populations, and weaker political and economic infrastructures than developed nations.