Various options are provided as possible answers to the following questions - NSC Consumer Studies - Question 1 - 2023 - Paper 1
Question 1
Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A-D) next to the question numbers (1.1.1 to... show full transcript
Worked Solution & Example Answer:Various options are provided as possible answers to the following questions - NSC Consumer Studies - Question 1 - 2023 - Paper 1
Step 1
1.1.1 … collect(s) taxes on behalf of the government.
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Answer
The correct answer is D: The South African Revenue Service (SARS). SARS is responsible for the collection of taxes on behalf of the government.
Step 2
1.1.2 Sugar tax is charged on …
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Answer
The correct answer is C: soft drinks. In many jurisdictions, sugar tax is primarily applied to sugary beverages to encourage healthier choices.
Step 3
1.1.3 The cooling-off period for cancelling a contract is … working days.
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Answer
The correct answer is B: 5. A cooling-off period is typically set to allow consumers time to reconsider a contract.
Step 4
1.1.4 … interest is charged on the original amount only.
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Answer
The correct answer is C: Simple. Simple interest is calculated solely on the principal amount.
Step 5
1.1.5 A community-based savings club with economic and social benefits for all its members:
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Answer
The correct answer is B: Stokvel. A Stokvel is a type of savings scheme popular in South Africa.
Step 6
1.1.6 … is the food additive most likely to have a negative effect on someone's health.
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Answer
The correct answer is D: Benzoate. Some studies indicate that benzoates can trigger allergic reactions in sensitive individuals.
