The major difference between loan and subsidy is that

Assessment: WAEC SSCE - Agricultural Science - 1995 (Objective) Subject: Agricultural Science

Question 1 Report

The major difference between loan and subsidy is that
Answer Details
The major difference between loan and subsidy is that a loan is money borrowed from a lender which must be paid back with interest, while a subsidy is financial assistance given by the government to reduce the cost of a particular product or service. A subsidy does not have to be repaid, and it can be given to both individuals and businesses to encourage specific activities or behaviors. On the other hand, a loan must be repaid within a specified period, and the borrower is usually required to pay interest on the amount borrowed.
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