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), as it is the official body responsible for collecting taxes on behalf of the government in South Africa.
Step 2
1.1.2 Sugar tax is charged on ...
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Answer
The correct answer is C: soft drinks. The sugar tax is primarily targeted at beverages with high sugar content, such as soft drinks.
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. In many contexts, the cooling-off period, during which a consumer can cancel a contract, is typically 5 working days.
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 only on the principal amount, unlike compound interest which calculates on accumulated interest.
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 community-based savings scheme that offers economic and social benefits to its members.
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 suggest that benzoates can have negative health effects, especially in certain individuals.
