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 in the ANSWER B... 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 use to determine the increase in price as well as to calculate the inflation rate is …
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Answer
The correct answer is C. Consumer Price Index. The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Step 2
A false or fraudulent business practice is called:
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Answer
The answer is B. Pyramid scheme. This refers to a business model that recruits members via a promise of payments or services primarily for enrolling other people into the scheme.
Step 3
Tax paid from selling a house is known as …
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This tax is known as B. Capital gains tax. It is the tax on the profit made upon the sale of a non-inventory asset.
Step 4
The condition in which the blood glucose level drops abnormally low:
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Answer
The correct answer is A. Hypoglycemia. This condition arises when the blood sugar level falls below normal.
Step 5
Lactic acidosis develops when the body cannot digest these in …
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Answer
The correct option is C. Carbohydrates. This condition may arise due to the accumulation of lactic acid, often due to insufficient oxygen for metabolism.
Step 6
Which would be the best boost for the immune system for a person who is very ill?
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Answer
The best option is A. Orange juice. It is rich in Vitamin C, known for its immune-boosting properties.
Step 7
The combination of foods that contribute to high cholesterol levels:
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Answer
The answer is A. Butter and hard margarine. These foods are known to increase cholesterol levels significantly.
Step 8
Brand piracy is …
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Answer
Brand piracy is defined as A. unauthorized use of protected trade names. This involves the illegal use of another company's brand or trademark.
Step 9
Sportwear has become street wear. This statement refers to …
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Answer
D. fashion trend. This represents a style that has transitioned from athletic to everyday wear.
Step 10
A sale and lease agreement is a contract between a …
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Answer
The correct answer is A. buyer and home owner. This contract outlines terms for a sale and lease arrangement.
Step 11
The money you borrow from a bank to buy a home is …
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Answer
This is typically referred to as a B. bond. A bond signifies a loan secured against property.
Step 12
The monthly bond repayment should be between … of the homeowner's monthly income.
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The recommended range is A. 20% - 30%. This is considered a manageable portion of the income for loan repayments.
Step 13
Mr. Hermann 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
D. Occupational disability insurance is designed to provide financial assistance in such circumstances.
Step 14
… is the document that proves legal ownership of a property.
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Answer
The document is called a A. Title Deed. This is a legal document that outlines ownership.
Step 15
The following statement shows that a household appliance meets specific criteria:
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Answer
The correct answer is A. SABS. It indicates that the appliance has been certified to meet certain standards.
Step 16
The amount added to the cost price to cover all expenses and still make a profit is called the …
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Answer
This is termed the A. selling price. It includes all costs and desired profit margin.
Step 17
Identify the factor that has the most sustainable profitability.
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Answer
D. Dark green leafy vegetables are known for their high demand and sustainability in production.
Step 18
Quality control …
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This relates to A. the demand of a specialized service that ensures products meet set standards.
Step 19
The selling price for 5 products is R750.00 and the production cost is R500.00. Indicate how much profit is made per product.
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The profit per product is C. R70.00. This is calculated as (R750.00 - R500.00) / 5.
