5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Question 5
5.1 Unit owners must pay a monthly levy to the body corporate.
Name THREE expenses that are paid using the levy.
5.2 Explain the advantages of buying and renting pr... show full transcript
Worked Solution & Example Answer:5.1 Unit owners must pay a monthly levy to the body corporate - NSC Consumer Studies - Question 5 - 2021 - Paper 1
Step 1
5.1 Name THREE expenses that are paid using the levy.
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Answer
Wages and salaries of staff that work for the complex.
Maintenance of the buildings/common areas.
Paying for water for the common areas.
Step 2
5.2 Explain the advantages of buying and renting property.
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Answer
5.2.1 OWNERSHIP
Buying a property means you become the owner, providing a sense of stability and control. This can lead to financial benefits in the long run as property values may increase.
5.2.2 INVESTMENTS
Renting allows for lower initial costs and fewer responsibilities, making it easier to relocate, while also freeing up funds for other investments.
Step 3
5.3.1 Identify the stove that uses the most non-human energy.
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Answer
Stove A
Step 4
5.3.2 Give a reason for the answer to QUESTION 5.3.1.
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Answer
Stove A uses both gas and electricity, while Stove B only uses gas. Therefore, Stove A has a higher energy consumption.
Step 5
5.3.3 Explain why STOVE B will be the most suitable choice.
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Stove B is preferred because:
Gas is generally cheaper than electricity, leading to lower overall utility costs.
Stove B provides more energy-efficient cooking options with six gas burners, making it versatile for various cooking needs.
Step 6
5.3.4 Calculate the total price of STOVE B if it is bought on an instalment sale transaction. Show ALL calculations.
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Answer
To calculate the total price of Stove B:
Deposit: R395,00
Instalment amount over 24 months: R400,00 x 24 = R9 600,00
Total price = R9 600,00 + R395,00 = R9 995,00
Step 7
5.4 Explain the possible financial impact of the 2020 national lockdown on property landlords.
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Answer
The lockdown could have several financial impacts on property landlords:
Tenants not able to pay rent might face eviction, causing landlords to lose income.
A decrease in demand for rental properties could result in longer vacancy periods.
Landlords might struggle with maintenance costs if income decreases.
