This question is related to the calculation and components of Gross Domestic Product (GDP). Let's analyze each statement to determine which one is not correct.

Statement 1: Factor income from abroad is included in the GDP.
This statement is correct. Factor income from abroad refers to the income earned by residents of a country from their investments or work done in foreign countries, as well as the income earned by foreigners from their investments or work done within the country. This income includes wages, profits, and dividends, among others. Factor income from abroad is included in GDP to account for the contribution of residents working or investing abroad, as well as the contribution of foreigners working or investing within the country.

Statement 2: GDP gives importance to who produces goods and services rather than where it is produced.
This statement is also correct. GDP measures the total value of goods and services produced within a country's borders during a specific period. It focuses on the production activities that occur within the country, regardless of whether the producers are domestic or foreign. It gives importance to the entity that produces the goods and services rather than their geographical location.

Statement 3: Negative externalities are taken into consideration while calculating GDP.
This statement is not correct. GDP does not directly account for negative externalities, which are the costs or harms imposed on third parties or the environment due to economic activities. GDP is a measure of economic output and does not consider the negative effects or costs associated with that output. Negative externalities, such as pollution or resource depletion, are considered market failures and are typically not reflected in GDP. However, policymakers and economists recognize the importance of addressing negative externalities through regulations, taxes, and other mechanisms to promote sustainable and inclusive economic growth.

Statement 4: Care economy is excluded from GDP.
This statement is correct. The care economy refers to the unpaid work, such as caregiving and household chores, that is predominantly done by women and is not included in GDP calculations. GDP primarily focuses on market-based economic activities and does not account for the value of unpaid work, including domestic work and care work. However, the importance of recognizing and valuing unpaid work is increasingly being recognized, and alternative measures such as the United Nations' System of National Accounts (SNA) and the United Nations Development Programme's (UNDP) Human Development Index (HDI) attempt to capture some aspects of the care economy.

In conclusion, statement 3 is not correct as negative externalities are not directly taken into consideration while calculating GDP.