5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Question 5
5.1 Unit owners must pay a monthly levy to the body corporate.
Name THREE expenses that are paid using the levy.
5.2 Explain the advantages of buying and renting pr... show full transcript
Worked Solution & Example Answer:5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Step 1
Name THREE expenses that are paid using the levy.
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Answer
Wages and salaries of staff that work for the complex.
Maintenance of the buildings/common areas.
Payment for water and electricity for the complex.
Step 2
Explain the advantages of buying and renting property.
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Answer
5.2.1 Buying:
You become the owner of the property, which gives you full control over it.
You have the potential to accumulate wealth as property value increases over time.
5.2.2 Renting:
Not being the owner means less responsibility for maintenance and repairs.
It provides flexibility as you can move easily without the burden of selling a property.
Step 3
Identify the stove that uses the most non-human energy.
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Answer
Stove A uses the most non-human energy as it has electric plates, while Stove B only uses gas.
Step 4
Give a reason for the answer to QUESTION 5.3.1.
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Answer
Stove A uses both gas and electricity, whereas Stove B solely uses gas, indicating that Stove A employs more non-human energy resources.
Step 5
Explain why STOVE B will be the most suitable choice.
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Stove B will be the most suitable choice because:
It uses gas, which generally provides a lower cost for cooking compared to electricity.
The whole stove uses gas, potentially saving on both heating time and energy costs.
Step 6
Calculate the total price of STOVE B if it is bought on an instalment sale transaction.
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Answer
To calculate the total price of Stove B:
Monthly payment: R400,00.
Total payment over 24 months: $400 imes 24 = R9600,00.
Add the deposit: R9600 + R395,00 = R9995,00.
Thus, the total price of Stove B is R9995,00.
Step 7
Explain the possible financial impact of the 2020 national lockdown on property landlords.
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Answer
Landlords face numerous challenges due to the lockdown:
Tenants unable to pay their rent could lead to a decrease in rental income.
Increased difficulty in finding new tenants if existing ones cannot fulfill their financial obligations.
Potential eviction processes, which could lead to further financial strain and legal fees.
Overall, the national lockdown could significantly impact cash flow and financial stability for property landlords.
