4.1.
4.2
QUESTION 4
SECTION C - ENTREPRENEURSHIP
Compare the difference between own capital and borrowed capital.
OWN CAPITAL
BORROWED CAPITAL
(4
List the remuneration for each of the four factors of production mentioned
below:
FACTORS OF PRODUCTION
A. Land
B. Capital
C. Entrepreneurship
D. Labour
RENUMERATION
(4



Answer :

Final answer:

Own vs. borrowed capital, factors of production remuneration, and the role of entrepreneurs & technology in the economy.


Explanation:

Own capital refers to the funds invested in a business by its owner(s), while borrowed capital is money acquired through loans or other forms of credit.

In terms of remuneration for factors of production: A. Land - rent, B. Capital - interest, C. Entrepreneurship - profit, D. Labour - wages.

Entrepreneurs play a crucial role in coordinating labor, capital, and natural resources efficiently with the aid of technology to drive economic growth through innovative processes and products.


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