2.1 Give THREE examples of indirect taxes that consumers pay on goods and services - NSC Consumer Studies - Question 2 - 2021 - Paper 1
Question 2
2.1 Give THREE examples of indirect taxes that consumers pay on goods and services.
2.2 Name TWO ways of using energy more efficiently when lighting a home.
2.3 St... show full transcript
Worked Solution & Example Answer:2.1 Give THREE examples of indirect taxes that consumers pay on goods and services - NSC Consumer Studies - Question 2 - 2021 - Paper 1
Step 1
Give THREE examples of indirect taxes that consumers pay on goods and services.
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Value Added Tax (VAT)
Excise duties on sin goods such as liquor and cigarettes.
Import duties.
Step 2
Name TWO ways of using energy more efficiently when lighting a home.
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Switch off lights when not in use, or install motion sensors.
Use energy-efficient light bulbs, like CFL or LED.
Step 3
Discuss the impact of the production of EcoBricks on: Water pollution.
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The production of EcoBricks can significantly reduce water pollution by providing a recycling method for plastic waste. This prevents plastic from ending up in water bodies, thus protecting aquatic life and ecosystem health.
Step 4
Discuss the impact of the production of EcoBricks on: Municipal service delivery.
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
EcoBricks can alleviate the burden on municipal waste management systems by encouraging recycling practices. This can lead to a reduction in waste collection costs and enhance the efficiency of municipal services.
Step 5
Explain the role that communities should play to help reduce the debt of their municipality.
97%
117 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Communities can actively participate by paying for services like water and electricity, ensuring their rates and taxes are current. They can also engage in initiatives that enhance municipal infrastructure, thereby lowering future repair costs.
Step 6
Identify TWO unfair business practices by the shop owner.
97%
121 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The shop owner made a false promise regarding the product's support for the back.
The owner refused to honor the two-year guarantee by not repairing or replacing the bed.
Step 7
Explain the term interest rate.
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Interest rate is the percentage of the amount borrowed that a lender charges for the use of money, typically expressed annually.
Step 8
Analyse how consumers with home loans are affected by the change in the repo rate.
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
When the repo rate decreases, financial institutions often lower the interest rates on home loans. For consumers, this means lower monthly repayments, allowing them to save on interest costs or reallocate funds for other expenses.
