We present Chandra X-ray data of the NGC 1333 embedded cluster, combining these data with existing Chandra data, Sptizer photometry and ground based spectroscopy of both the NGC 1333 & Serpens North clusters to perform a detailed study of the X-ray properties of two of the nearest embedded clusters to the Sun. In NGC 1333, a total of 95 cluster members are detected in X-rays, of which 54 were previously identified with Spitzer. Of the Spitzer sources, we detect 23% of the Class I protostars, 53% of the Flat Spectrum sources, 52% of the Class II, and 50% of the Transition Disk YSOs. Forty-one Class III members of the cluster are identified, bringing the total identified YSO population to 178. The X-ray Luminosity Functions (XLFs) of the NGC 1333 and Serpens clusters are compared to each other and the Orion Nebula Cluster. Based on this comparison, we obtain a new distance for the Serpens cluster of 360+22/-13 pc. The X-ray luminosity was found to depend on the bolometric luminosity as in previous studies of other clusters, and that Lx depends primarily on the stellar surface area. In the NGC 1333 cluster, the Class III sources have a somewhat higher X-ray luminosity for a given surface area. We also find evidence in NGC 1333 for a jump in the X-ray luminosity between spectral types of M0 and K7, we speculate that this may result from the presence of radiative zones in the K-stars. The gas column density vs. extinction in the NGC 1333 was found to be N_H = 0.89 +/- 0.13 x 10^22 A_K, this is lower than expected of the standard ISM but similar to that found previously in the Serpens Cloud Core.
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