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
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
Give TWO examples of renewable sources of energy.
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Answer
Two examples of renewable sources of energy are:
Solar energy
Wind energy
Step 3
Who is responsible for the payment?
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Answer
Property owners are responsible for the payment of property rates and taxes.
Step 4
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 the size of the property.
Step 5
What is the money used for?
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The money collected from property rates and taxes is used for municipal services, infrastructure development, and community projects.
Step 6
Explain how a household can reduce electricity usage when heating a home during the winter months.
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Answer
A household can reduce electricity usage during winter by:
Using gas or paraffin heaters instead of electric heaters.
Keeping doors and windows closed while heating.
Installing energy-efficient heating devices.
Using blankets to retain heat.
Insulating ceilings and walls to improve heat retention.
Step 7
Define the term grey goods/parallel imports.
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Grey goods or parallel imports are products that a manufacturer does not officially sell in a specific country, usually imported through unofficial channels but are not illegal.
Step 8
Explain what it means if a product has a guarantee.
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A product with a guarantee means that the seller offers repair, replacement, or refund if the product fails to meet specified standards.
Step 9
Explain the term inflation.
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Inflation refers to the general increase in prices of goods and services over a specific period.
Step 10
Compare a stokvel to a multilevel/tiered-level marketing scheme under the following subheadings: Tiered level.
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In a stokvel, there are no tier levels; all members are equal. In contrast, a multilevel marketing scheme has varying levels of members, where those at higher tiers receive more benefits.
Step 11
Selling of products.
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A stokvel typically does not involve selling of products. In a multilevel marketing scheme, members sell products to earn commissions.
Step 12
Payment of members.
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In a stokvel, all members receive the same amount when it's their turn. In a multilevel marketing scheme, members are paid based on sales and the level they are at.
Step 13
State THREE ways in which consumers can assist with reducing water pollution.
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Consumers can assist by:
Using biodegradable cleaning products.
Not disposing of unnecessary items down the sink or toilet.
Properly disposing of hazardous waste.
Step 14
Discuss the negative impact that a municipality neglecting these responsibilities has on the local community.
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Neglecting responsibilities by municipalities can lead to several issues:
Poorly maintained roads can affect accessibility and tourism.
Increased incidents of accidents due to lack of proper road maintenance.
Flooding can occur if storm-water drainage is not maintained, risking lives and properties.
Devalued property due to neglected infrastructure, impacting community welfare.
