2.1 Name the body that is responsible for the increasing or decreasing of interest rates in South Africa - NSC Consumer Studies - Question 2 - 2020 - Paper 1

2.2.1 The taxes payable on liquor and cigarettes are excise duty or sin tax.

2.2.2 The taxes payable on petrol and diesel are fuel tax, levy, or duty.

1. Hang the clothes outside on a clothes line to dry, as this uses no electricity.
2. Use a clothes horse or drying rack in a well-ventilated room to avoid using a tumble dryer.

The type of import stated above is classified as parallel imports or grey goods.

Parallel imports are items or household appliances that the manufacturer does not sell or endorse in South Africa. Although these goods are not illegal, they do not come with the manufacturer's warranty, which means if a product fails or breaks, the customer cannot claim support or repairs from the manufacturer. This can result in financial loss for consumers when purchasing these goods.

Rising inflation impacts South African households by increasing the cost of goods and services. As prices rise, families have less disposable income to meet their basic needs and expenses. Specifically, the increase in petrol and electricity prices further strains household budgets. The cost of living rises as prices for essential goods also increase, leading to heightened financial pressure. Unemployment can increase as companies struggle with higher operational costs, resulting in a decline in household income and overall quality of life.

The two schemes mentioned are Multi-level marketing scheme (Tiered-level scheme) and Illegal pyramid scheme.

The Multi-level marketing scheme is legal and allows for multiple participants at various levels, while the Illegal pyramid scheme is structured to benefit only the top initiator, making it unsustainable and illegal. Participants in the Multi-level marketing scheme can earn commissions based on their sales along with their recruits' sales, whereas in a pyramid scheme, participants primarily earn money from recruitment rather than sales, which often leads to eventual financial loss for those at the bottom.