2.1 Name the interest rate that is charged by the South African Reserve Bank - NSC Consumer Studies - Question 2 - 2024 - Paper 1
Question 2
2.1 Name the interest rate that is charged by the South African Reserve Bank.
2.2 Give TWO examples of renewable sources of energy.
2.3 Explain the following with ... show full transcript
Worked Solution & Example Answer:2.1 Name the interest rate that is charged by the South African Reserve Bank - NSC Consumer Studies - Question 2 - 2024 - Paper 1
Step 1
2.1 Name the interest rate that is charged by the South African Reserve Bank.
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Answer
The interest rate charged by the South African Reserve Bank is the repo rate.
Step 2
2.2 Give TWO examples of renewable sources of energy.
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Solar energy
Wind energy
Step 3
2.3.1 Who is responsible for the payment?
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Property owners are responsible for the payment of property rates and taxes.
Step 4
2.3.2 How does the municipality determine the amount to be paid?
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The municipality determines the amount to be paid based on the market value and size of the property, which can vary depending on factors such as location and property conditions.
Step 5
2.3.3 What is the money used for?
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The money collected from property rates and taxes is used for municipal services, such as the maintenance of infrastructure and community development.
Step 6
2.4 Explain how a household can reduce electricity usage when heating a home during the winter months.
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A household can reduce electricity usage by:
Using gas or paraffin heaters instead of electric heaters.
Installing a solar system for heating.
Keeping curtains closed during the day to retain warmth.
Using blankets instead of high heaters for warmth.
Timely maintenance of heaters for optimal performance.
Step 7
2.5 Define the term grey goods/parallel imports.
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Grey goods or parallel imports refer to products that are imported into a country without authorization from the manufacturer, often bypassing official distribution channels. These products are not necessarily illegal but may lack proper warranties or support.
Step 8
2.6 Explain what it means if a product has a guarantee.
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A guarantee indicates that a product is warranted to be free from defects and will perform as stated. If the product fails, the seller is responsible for repairs, refunds, or replacements.
Step 9
2.7 Explain the term inflation.
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Inflation refers to the general increase in prices of goods and services over a specific period, often measured annually. It indicates the declining purchasing power of money.
Step 10
2.8 Compare a stokvel to a multilevel/tiered-level marketing scheme under the following subheadings:
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Tiered level:
Stokvel: Does not have tier levels; all members are equal.
Multilevel: Members can have different tiers based on their recruitment.
Selling of products:
Stokvel: No direct selling of products.
Multilevel: Members earn by selling products.
Payment of members:
Stokvel: All members receive the same financial benefits.
Multilevel: Payments are based on sales and recruitment.
Step 11
2.9 State THREE ways in which consumers can assist with reducing water pollution.
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Use biodegradable washing products.
Dispose of waste responsibly and avoid flushing non-degradable items.
Participate in clean-up activities in local water bodies.
Step 12
2.10 Discuss the negative impact that a municipality neglecting these responsibilities has on the local community.
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Neglecting municipal responsibilities can lead to:
Poor road conditions affecting accessibility and tourism.
Increased risks of accidents due to unmaintained roads.
Health hazards from blocked stormwater drains, leading to flooding.
Depreciation of property values, causing economic decline.
Increased burden on community members who have to find alternative solutions to these issues.
