5.1 Define the term full-title ownership - NSC Consumer Studies - Question 5 - 2024 - Paper 1

An offer to purchase is a written agreement between a buyer and a seller, where the buyer makes an offer to acquire a property. It specifies the proposed price and the conditions under which the buyer is willing to proceed with the purchase.

Using cash to purchase household appliances is cheaper because:

1. There is no interest charged when paying with cash.
2. Cash purchases may qualify for discounts.
3. Cash transactions avoid the risk of additional fees that may arise in instalment payments.
4. There are no monthly payments, which means no finance charges.

A prospective homeowner must consider several costs including:

1. The purchase price for land.
2. Building costs such as materials and labor.
3. Fees for architects or designers.
4. Compliance costs for inspections and permits.
5. Utility connections and other infrastructural expenses.
6. Any additional unexpected costs that may arise during the building process.

To calculate the total instalment sale transaction price for the portable gas stove:

• Monthly payment: R69.00
• Number of months: 6
• Total instalment sale price:

$R69.00 imes 6 = R414.00$

• Plus deposit: $R414.00 + R59.00 = R473.00$

Thus, the total instalment sale transaction price is R473.00.

a) Saves human energy:

• The gas canister is lightweight and easy to fit and install, making it energy efficient.
• The removable top plate rim allows for easy cleaning.
• The automatic igniting switch makes it effortless to use.
• The light and compact design enable easy handling and storage.

b) Will be a useful purchase for a household:

• It can be utilized for various purposes such as cooking during trips or emergencies.
• Ideal for situations where space is limited, as it is compact and easy to store.
• The instant heating feature enhances convenience and efficiency.