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 repo rate is the interest rate at which commercial banks borrow money from the central bank (the Reserve Bank). It influences other interest rates in the economy.

Consumers can save electricity by:

1. Switching off when not in use - Ensure that lights are turned off when leaving a room.
2. Using energy-efficient bulbs - Replace conventional bulbs with energy-saving or CFL/LED lights.
3. Installing dimmers and timers - Utilize dimmer switches and timers to control usage.

Individuals whose taxable income is above a certain threshold, and those who earn income from sources like rental, investment, or business, should pay provisional tax.

Provisional tax is paid to the South African Revenue Service (SARS) in two installments based on estimated taxable income. The taxpayer pays the first installment based on a percentage of the previous year's income and the second installment later in the year, also estimated, ensuring compliance with tax obligations.

The club mentioned, Siyabuthana, is classified as a Community Based Savings Club.

Siyabuthana must meet the following requirements:

1. All members must know the amount of money being invested and who will manage it.
2. All contributions must be made to a common fund.
3. Date of payment for contributions must be established.

To save water using taps, the community should:

1. Check for leaks regularly and fix dripping taps promptly.
2. Install aerators to reduce water flow without compromising water pressure.
3. Use a cup for rinsing while brushing teeth instead of letting the tap run.

To save water using toilets, the community should:

1. Place a brick in the cistern to reduce the flush volume.
2. Ensure toilets flush only when necessary and avoid double flushing.
3. Install low-flush toilets to decrease water usage per flush.

A scam is a fraudulent scheme designed to con someone out of their money or personal information, often masquerading as a legitimate opportunity or business.

Three warning signs that indicate this advertisement is a scam are:

1. No verified contact details - There is no official website or contact information that can be verified, making it risky to engage with.
2. Request for upfront fees - The requirement to pay R250 upfront is suspicious, as scams often ask for payment before services are rendered.
3. Promises of guaranteed income - The claim of receiving cash back for initial fees is often unrealistic and is a common tactic used in scams.

The lack of refuse removal can lead to significant health hazards in the community. Accumulated waste can attract pests and rodents, which may spread diseases. It can also create unsightly and unhygienic environments, leading to community dissatisfaction and negatively affecting property values. Furthermore, poor waste management could hinder local business activities and deter potential investment.

The increase in food prices from R3 057 in July 2019 to R3 412.21 in July 2020 can be attributed to several factors. Primarily, inflation rises have led to increased costs in production and transportation, making food commodities more expensive. Additionally, supply chain disruptions due to external factors, such as droughts impacting agricultural outputs, have limited the availability of certain products, thus raising prices. Increased demand during economic fluctuations also plays a significant role in furthering this upward trend in pricing.