difference between gdp and gnp

Difference Between GDP and GNP

Before jumping into the difference between GDP and GNP, let’s understand where they belong in the field of economics. Both of these terms are measures of national income. National income is a macroeconomic variable that helps determine a country’s economic stability. It represents a country’s total income from all economic activities in a given year. […]

provident fund and pension

Difference Between Provident Fund and Pension

Definition of Provident Fund A provident fund is a government-run retirement fund. They are generally mandatory, and are funded by both employer and employee contributions. The rules governing withdrawals are set by governments, including the minimum age and withdrawal amount. If a participant dies, his or her surviving spouse and dependents may be able to […]

Difference between ANOVA and ANCOVA

Difference Between ANOVA and ANCOVA

Although the terms ANOVA and ANCOVA sound similar, they are different techniques and possess different meaning. When one or more samples are involved, ANOVA is an effective technique for conducting research in a variety of disciplines such as business, economics, psychology, biology, and education. It is frequently confused with ANCOVA, as both are used to […]