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 p... 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
Name THREE expenses that are paid using the levy.
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Answer
Paying wages and salaries of staff that work for the complex.
Maintaining the buildings and common areas.
Paying for water and electricity for the common areas.
Step 2
Explain the advantages of buying and renting property.
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Answer
5.2.1 Buying:
Become the owner of the property, which can lead to personal wealth over time.
5.2.2 Renting:
Not the owner of the property, which results in less responsibility in terms of maintenance and fewer monthly expenses. It is also easier to move.
Step 3
Identify the stove that uses the most non-human energy.
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Answer
Stove A uses both gas and electricity, while Stove B uses only gas. Therefore, Stove A is the stove that utilizes the most non-human energy.
Step 4
Give a reason for the answer to QUESTION 5.3.1.
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Answer
Stove A has electric plates in addition to gas burners, which indicates a reliance on both gas and electricity. Stove B relies solely on gas.
Step 5
Explain why STOVE B will be the most suitable choice.
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Stove B is considered more suitable because:
It uses gas, which typically provides a lower cost for energy compared to electricity, making it more economical over time.
The stove requires less maintenance and offers efficient cooking options.
Step 6
Calculate the total price of STOVE B if it is bought on an instalment sale transaction. Show ALL calculations.
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Answer
The total price can be calculated as follows:
Deposit: R395,00
Monthly payment: R400,00 for 24 months = R400 x 24 = R9600,00
Total cost: R395 + R9600 = R9995,00.
Step 7
Explain the possible financial impact of the 2020 national lockdown on property landlords.
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Landlords might face several challenges due to the lockdown:
Tenants could not be evicted for non-payment of rent, affecting cash flow.
New tenants might be difficult to find, decreasing income.
Properties could be left unsupervised, leading to maintenance issues.
Reduced income could affect the ability to cover mortgage repayments and other expenses.
