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5.1 Name ONE method of paying for household appliances where interest is charged - NSC Consumer Studies - Question 5 - 2023 - Paper 1
Question 5
5.1 Name ONE method of paying for household appliances where interest is charged. 5.2 List factors that a student needs to consider when shopping for a microwave ov... show full transcript
Worked Solution & Example Answer:5.1 Name ONE method of paying for household appliances where interest is charged - NSC Consumer Studies - Question 5 - 2023 - Paper 1
Step 1
Step 2
List factors that a student needs to consider when shopping for a microwave oven for his/her rented room.
Answer
When shopping for a microwave oven, a student should consider the following factors:
- Ease of operation: Ensure that the microwave is user-friendly and has straightforward controls.
- Safety of the appliance: Look for features such as auto shut-off or safety locks to prevent accidents.
- Budget: Determine how much you are willing to spend without exceeding your budget.
- Space available: Measure the available space in your rented room to ensure the microwave fits.
- Energy efficiency/wattage: Choose an energy-efficient model that meets your cooking needs and is economical.
- Cooking/warming needs: Consider what types of food you typically prepare.
- Safety certification: Check for certifications such as SABS (South African Bureau of Standards).
- Guarantee/warranty: Ensure there is a valid warranty for repairs or replacements.
Step 3
State the main differences between full-title homeownership and sectional title homeownership.
Answer
The main differences are:
- Full-title homeownership: The buyer becomes the legal owner of the entire property, including the land and all structures on it. This provides complete ownership rights.
- Sectional title homeownership: The property is divided into units, which are individually owned. Homeowners share ownership of common areas, and this type of ownership may come with additional regulations and responsibilities.
Step 4
Compare the financial advantages of renting a property with the financial disadvantages of buying a property with a mortgage bond.
Answer
| FINANCIAL ADVANTAGES OF RENTING A PROPERTY | FINANCIAL DISADVANTAGES OF BUYING A PROPERTY WITH A MORTGAGE BOND |
|---|---|
| The tenant pays a fixed amount over a year/specific period and can thus budget in advance. | Bond/repayment costs may increase over a year/specific period. |
| The tenant does not pay land/property tax. | The owner pays land/property tax. |
| The tenant is not responsible for maintenance of the property/unit/building. | The owner is responsible for paying for the maintenance of the property/unit/building. |
| Fewer monthly expenses as the tenant does not pay homeowners’ insurance. | More expensive in the short term due to various costs associated with ownership. |
| Monthly rental is less than a bond repayment over the short term. | The owner still has to pay the bond even if it becomes unaffordable. |
| The tenant can move out if it becomes unaffordable after giving due notice. |
Step 5
Analyse the suitability of this chest freezer for Mr Johannes.
Answer
The chest freezer is suitable for Mr. Johannes for several reasons:
- Needs Assessment: It will meet his needs since it uses gas and electricity, accommodating his bulk food purchases.
- Cost Efficiency: The freezer will save on electricity costs, as gas is often cheaper for freezing needs.
- Ease of Use: Its manual defrost feature may be manageable for Mr. Johannes without requiring complex technology.
- Space Considerations: The 160-litre size fits the flat well, thus optimizing space, even if it is small.
- Cleaning Convenience: The design makes it easier for him to clean, ensuring hygiene and practicality in a confined space.
- Accessibility: It provides sufficient storage space for food while remaining relatively easy to access.
However, some considerations should be made:
- Weight and Mobility: The freezer's weight may pose challenges when moved, especially for someone of Mr. Johannes’ age.
- Accessibility: The manual defrost design may require him to put in extra effort, which he might find inconvenient.