QUESTION 2: THE CONSUMER 2.1 State TWO ways of calculating interest on credit agreements - NSC Consumer Studies - Question 2 - 2022 - Paper 1

Grey goods/parallel imports are items that a manufacturer does not sell through official channels, often imported without authorization. They may be legal if the necessary duties have been paid.

1. Use grey water from the overflow pipe of the geyser.
2. Plant drought-resistant or native plants that require less water.
3. Water plants early in the morning or late in the evening to minimize evaporation.

2.4.1 VAT (value-added tax): A percentage added to the price of goods and services at each stage of production. All consumers pay VAT.

2.4.2 Excise duty: A specific tax on certain goods, which may vary based on the product's nature and purpose.

1. Allow air to circulate in the refrigerator and avoid overcrowding.
2. Keep the refrigerator full, as a full fridge uses less energy than an empty one.
3. Regularly vacuum the coils to maintain efficiency.

Municipalities can implement street lighting to reduce dark areas, provide neighborhood watch programs, install CCTV cameras, and organize community engagement activities that foster trust. They can also clean up areas to minimize hiding spots for criminals and maintain visible public spaces.

A tiered-level marketing scheme involves recruiting individuals to sell a product directly. Participants earn commissions based on their sales and can also earn from the sales made by recruits, thus creating a network of salespersons.

A contract is a legal agreement between two parties, where one party agrees to do something in return for a benefit to the other.

The cooling-off period allows consumers to cancel certain contracts after a short timeframe without penalty, giving them the opportunity to reconsider their decision, particularly when under pressure.

Gas is considered cleaner than coal and does not produce as many harmful emissions. This leads to less air pollution, reduces carbon footprint, and contributes to lower greenhouse gas emissions.

As fuel prices rise, consumers may struggle to afford basic necessities due to increased transportation costs. This forces them to prioritize spending, leading to difficult choices among essential goods like food and housing. Consequently, their ability to meet basic needs is significantly compromised.