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 / paraffin / kerosene
2. Natural Gas / Gas

The repo rate refers to the interest rate at which commercial banks borrow money from the Reserve Bank. It is a key tool used by the central bank to control the money supply and influence economic activity.

Three ways in which consumers can save electricity when using household lights are:

1. Switch off lights when not in use.
2. Use bulbs with lower wattage where possible and consider using energy-efficient lights like CFL or LED bulbs.
3. Incorporate solar lights in home gardens or use solar lamps to reduce reliance on conventional electricity.

Provisional tax is generally paid by individuals or businesses whose yearly income exceeds a certain threshold, therefore those earning significant income are responsible for paying this tax.

Provisional tax is paid to SARS in the form of two payments each year. The first payment is made based on estimated income for the year, and the second is revised according to actual income received during the previous year.

The type of club above is a community-based savings club.

Three requirements that Siyabuthana must meet for them to be a legal club are:

1. All members must know how much money they will be investing and who will manage it.
2. All contributions must be made to a common fund managed by a designated member.
3. All members must know how often meetings will be held and must be given the opportunity to participate in decision-making processes.

To save water through taps:

1. Ensure there are no leaks and fix any dripping taps.
2. Fit a tap aerator to reduce water flow by 50-70%.
3. Collect water while brushing your teeth to use for rinsing clothes or plants.

To save water with toilets:

1. Place a plastic bottle filled with water in the cistern to reduce the flush volume.
2. Ensure that the toilet cistern does not leak.
3. Flush only when necessary to minimize water usage.

A scam is a false and fraudulent business deal often linked to organized crime, that deceives participants into providing money or personal information under false pretenses.

Three warning signs indicating that the advertisement is a scam are:

1. The absence of a company name or website, making it difficult to verify its legitimacy.
2. Request for money upfront, which can indicate a scheme to extract funds without intention of delivering services.
3. Pressure tactics, such as the urgency to respond quickly, which is often used by scammers to prevent thorough consideration and research.

The lack of refuse removal can lead to significant public health risks as it creates an environment conducive to the spread of diseases. Accumulation of waste may attract pests and rodents, leading to infestations. Furthermore, it can negatively affect local businesses by making the area less appealing, thereby limiting economic opportunities for residents.

Food prices increased from 2019 to 2020 due to several factors, including inflation, which led to rising production costs. A surge in transportation costs driven by fuel price increases also contributed. Moreover, external factors such as drought conditions affected agricultural output, further straining food supply and subsequently driving prices higher.