Various options are provided as possible answers to the following questions - NSC Consumer Studies - Question 1 - 2017 - Paper 1
Question 1
Various options are provided as possible answers to the following questions. Choose the answer and write the letter (A-D) next to the question number (1.1.1-1.1.20) ... show full transcript
Worked Solution & Example Answer:Various options are provided as possible answers to the following questions - NSC Consumer Studies - Question 1 - 2017 - Paper 1
Step 1
To measure used to determine the increase in price as well as calculate the inflation rate is…
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Answer
The correct answer is C. Consumer Price Index (CPI). The CPI is used to measure inflation by calculating the price change for a basket of goods over time.
Step 2
A false or fraudulent business practice is called:
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Answer
The correct answer is B. Pyramid scheme. A pyramid scheme is a type of fraudulent investment that involves promising participants payments or services primarily for enrolling others into the scheme.
Step 3
The tax paid for selling a house is known as …
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Answer
The correct answer is C. transfer duty. Transfer duty is a tax levied on the value of property sold and is payable by the purchaser.
Step 4
The condition in which the blood glucose level drops abnormally low is…
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Answer
The correct answer is A. hypoglycemia. Hypoglycemia occurs when blood sugar levels fall below normal.
Step 5
Lactic acid intolerance develops when the body cannot digest the …
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Answer
The correct answer is A. milk. Lactic acid intolerance is often linked to the inability to digest lactose, a sugar found in milk.
Step 6
Which would be the best boost for the immune system for a person who is fully healthy?
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Answer
The correct answer is A. Orange juice. Orange juice is rich in vitamin C, which helps boost the immune system.
Step 7
The combination of food that will contribute to high cholesterol levels:
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Answer
The correct answer is B. Butter and dark margarine. This combination contains high levels of saturated fat, which can raise cholesterol.
Step 8
And the minimum age requirement for alcohol is …
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Answer
The correct answer is B. 18. Most places have set the legal drinking age to 18 years.
Step 9
Bird flu is …
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Answer
The correct answer is B. Bad. Bird flu is a serious illness that can be transmitted from birds to humans.
Step 10
Sportwear has become street wear. This statement refers to …
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Answer
The correct answer is C. fashion trend. The mixing of sports and casual wear has become a notable fashion trend.
Step 11
The sales agreement is a contract between a …
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Answer
The correct answer is A. buyer and home owner. A sales agreement is typically between these two parties.
Step 12
The money you borrow from a bank to buy a home is …
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Answer
The correct answer is D. mortgage bond. A mortgage is a loan specifically used to purchase property.
Step 13
The monthly bond repayment should be between… of the homeowner’s monthly income.
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Answer
The correct answer is B. 28% - 32%. Financial experts recommend that mortgage payments should typically not exceed this percentage of monthly income.
Step 14
Mr. Hermonius was in an accident and is now permanently wheel-chair bound. The following insurance will cover his home loan outstanding balance:
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Answer
The correct answer is A. Life insurance. Life insurance can cover outstanding debts in cases of unforeseen circumstances.
Step 15
This is the document that proves legal ownership of a property.
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Answer
The correct answer is A. Title Deed. A Title Deed is the legal document proving ownership.
Step 16
The following statement shows that a household appliance meets specific criteria:
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Answer
The correct answer is A. SABS. The South African Bureau of Standards (SABS) certifies the compliance of products.
Step 17
The amount added to the cost price to cover all expenses and still make a profit is called the …
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Answer
The correct answer is B. markup. Markup is the difference between the cost to produce or purchase a good and its selling price.
Step 18
Identify the term that has the most sustainable profitability.
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Answer
The correct answer is D. Clothing. Clothing generally has a broad market and can sustain profitability over time.
Step 19
Quality control is…
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Answer
The correct answer is A. the demand of a specified service. Quality control ensures that products or services meet certain standards.
Step 20
The selling price for 5 products is R750.00 and the production cost is R450.00. Indicate how much profit is made per product.
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Answer
To calculate profit per product:
Total profit = Selling price - Production cost = R750.00 - R450.00 = R300.00
Profit per product = Total profit / Number of products = R300.00 / 5 = R60.00.
