2.1 Name the document that is a legal agreement between two or more parties - NSC Consumer Studies - Question 2 - 2021 - Paper 1

Two examples of fossil fuels as a form of energy are:

1. Coal
2. Natural Gas

The term repo rate refers to the interest rate at which commercial banks borrow money from the Reserve Bank. It is a crucial tool used by the central bank to control inflation and influence the economy.

Three ways in which consumers can save electricity while using household lights include:

1. Switching off lights when not in use.
2. Using energy-saving bulbs such as CFLs or LEDs, which consume less electricity.
3. Utilizing natural light where possible during the day by keeping windows uncovered.

Individuals who earn income that is not subject to PAYE (Pay As You Earn) should pay provisional tax. This typically includes self-employed individuals, freelancers, and those with additional income sources.

Provisional tax is paid to the South African Revenue Service (SARS) in two installments each year. The first payment is based on the expected income for the year, while the second payment is based on the actual income for the year. It is essential to keep accurate records to determine the correct amount payable.

The type of club indicated in the excerpt is a community-based savings club.

Three requirements that Siyabuthuna must meet to be recognized as a legal club include:

1. All members must know the amount of money that will be invested and how it will be managed.
2. Contributions must be made to a common fund that all members can access.
3. The club must hold regular meetings to ensure transparency and accountability among members.

To maximize water conservation when using taps, individuals should:

1. Ensure that there are no dripping taps and fix them immediately.
2. Use a cup or glass when drinking water instead of running the tap.
3. When brushing teeth or rinsing dishes, turn off the tap to prevent water wastage.

To conserve water when using toilets, recommendations include:

1. Placing a brick or plastic bottle in the cistern to reduce the water used per flush.
2. Ensuring that the toilet does not leak, which can lead to unnecessary water loss.
3. Flushing only when necessary to further minimize water usage.

A scam is a fraudulent business deal that is often linked to organized crime. It usually involves deceitful schemes designed to swindle individuals out of money or personal information.

Three warning signs that indicate the advertisement is a scam include:

1. Unverified company information – The business has no established reputation or contact details that can be verified.
2. Request for payment upfront – The requirement to deposit money without clear contractual terms raises red flags.
3. Lack of transparency – The advertisement provides limited details about the job and doesn't articulate clear responsibilities or benefits.

The absence of refuse removal has several detrimental effects on a community:

1. It leads to an increase in unhygienic conditions, fostering pests and diseases.
2. Accumulation of waste can create environmental hazards, affecting water quality and local wildlife.
3. It can deter businesses from operating in the area, decreasing economic opportunities for residents.

The increase in food prices from 2019 to 2020 can be attributed to several factors, including rising production costs due to increased wages and transport expenses. Inflationary trends have played a significant role, as higher costs of goods and services ultimately lead to increased prices for consumers. Additionally, environmental factors like drought in certain areas have impacted agricultural production, creating shortages that further escalate prices. Overall, these elements combined resulted in a noticeable increase in the cost of the household food basket.