2.1 Name the interest rate that is charged by the South African Reserve Bank - NSC Consumer Studies - Question 2 - 2024 - Paper 1
Question 2
2.1 Name the interest rate that is charged by the South African Reserve Bank.
2.2 Give TWO examples of renewable sources of energy.
2.3 Explain the following with ... show full transcript
Worked Solution & Example Answer:2.1 Name the interest rate that is charged by the South African Reserve Bank - NSC Consumer Studies - Question 2 - 2024 - Paper 1
Step 1
2.1 Name the interest rate that is charged by the South African Reserve Bank.
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Answer
The interest rate charged by the South African Reserve Bank is known as the repo rate.
Step 2
2.2 Give TWO examples of renewable sources of energy.
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Answer
Two examples of renewable sources of energy are:
Solar energy
Wind energy
Step 3
2.3 Explain the following with regard to property rates and taxes charged by a municipality: 2.3.1 Who is responsible for the payment?
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The property owners are responsible for the payment of property rates and taxes to the municipality.
Step 4
2.3.2 How does the municipality determine the amount to be paid?
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The municipality determines the amount to be paid based on the market value and size of the property.
Step 5
2.3.3 What is the money used for?
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The money collected from property rates and taxes is used for municipal services, including providing facilities and maintaining infrastructure for the community.
Step 6
2.4 Explain how a household can reduce electricity usage when heating a home during the winter months.
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A household can reduce electricity usage by:
Utilizing gas or paraffin heaters instead of electric heaters.
Installing a solar geyser to heat water using solar energy.
Sealing gaps around windows and doors to prevent heat loss.
Using insulated curtains to retain heat within the rooms.
Step 7
2.5 Define the term grey goods/parallel imports.
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Grey goods or parallel imports are products that are imported into a country without the authorization of the original manufacturer, often being sold at cheaper prices.
Step 8
2.6 Explain what it means if a product has a guarantee.
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If a product has a guarantee, it means that the seller promises to repair, replace, or refund the product if it fails to meet certain standards or has defects.
Step 9
2.7 Explain the term inflation.
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Inflation refers to the gradual increase in prices of goods and services over a specific period, leading to a decline in purchasing power.
Step 10
2.8 Compare a stokvel to a multilevel/tiered-level marketing scheme under the following subheadings: Tiered level
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A stokvel does not have hierarchical levels; all members are equal, whereas in a multilevel marketing scheme, members can have different tiers based on their performance and recruitment.
Step 11
Selling of products
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In a stokvel, there is generally no direct selling of products; members contribute money for collective goals. In contrast, a multilevel marketing scheme involves members selling products and earning commissions.
Step 12
Payment of members
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In a stokvel, members receive payouts based on their contributions, while in a multilevel marketing scheme, members receive compensation for their sales and recruitment achievements.
Step 13
2.9 State THREE ways in which consumers can assist with reducing water pollution.
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Consumers can reduce water pollution by:
Using biodegradable cleaning products.
Avoiding the disposal of harmful substances down the drain.
Reducing water waste by fixing leaks and using water-efficient fixtures.
Step 14
2.10 Discuss the negative impact that a municipality neglecting these responsibilities has on the local community.
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Neglecting responsibilities can lead to:
Poor road conditions affecting accessibility and safety.
Increased flooding due to inadequate storm-water drainage, leading to property damage.
Deteriorating infrastructure, which can harm local businesses and tourism.
Potential health hazards from blocked drainage systems causing attractants for pests.
