<Dl> <Dd> "Gross" means total product, regardless of the use to which it is subsequently put . </Dd> <Dd> "Net" means "Gross" minus the amount that must be used to offset depreciation--ie., wear - and - tear or obsolescence of the nation's fixed capital assets . "Net" gives an indication of how much product is actually available for consumption or new investment . </Dd> </Dl> <Dd> "Gross" means total product, regardless of the use to which it is subsequently put . </Dd> <Dd> "Net" means "Gross" minus the amount that must be used to offset depreciation--ie., wear - and - tear or obsolescence of the nation's fixed capital assets . "Net" gives an indication of how much product is actually available for consumption or new investment . </Dd> <Dl> <Dd> "Domestic" means the boundary is geographical: we are counting all goods and services produced within the country's borders, regardless of by whom . </Dd> <Dd> "National" means the boundary is defined by citizenship (nationality). We count all goods and services produced by the nationals of the country (or businesses owned by them) regardless of where that production physically takes place . </Dd> <Dd> The output of a French - owned cotton factory in Senegal counts as part of the Domestic figures for Senegal, but the National figures of France . </Dd> </Dl>

National income of a country is based on