2.1 Name the body that is responsible for the increasing or decreasing of interest rates in South Africa - NSC Consumer Studies - Question 2 - 2020 - Paper 1

The types of taxes payable on liquor and cigarettes include excise duty and sin tax.

The taxes payable on petrol and diesel include fuel tax, levy, and duty.

1. Hang the clothes on an outdoor line to air dry, which uses no electricity.
2. Use a tumble dryer on a lower heat setting for a shorter duration to save energy.

The type of import stated above is a parallel import, also known as grey goods.

Grey goods or parallel imports are items that are imported without the consent of the manufacturer. These products may not conform to the manufacturer's warranty policies, and there can be concerns about quality and after-sales service since they bypass official distribution channels.

Rising inflation negatively affects South African households in several ways. As the prices of goods and services increase, families find their disposable income reduced, meaning they struggle to meet basic needs. For instance, rising petrol prices lead to higher transportation costs, while electricity price hikes add strain on monthly budgets. Moreover, as inflation rises, so does unemployment, as businesses respond to increased costs by cutting back on expenses. This loss of income makes it challenging for households to maintain their quality of life, often resulting in increased poverty and inability to meet essential needs.

The two schemes are: 1. Multi-level marketing scheme. 2. Pyramid scheme.

1. Multi-level marketing scheme allows multiple people to earn money, while pyramid schemes often have one person at the top or initiator.
2. In a multi-level marketing scheme, individuals can sell products, while in a pyramid scheme, there are no legitimate goods or services sold, only new investments.