Gr 11 Consumers Studies T3 2024
SACAI NOV 2019 – 2021. EC/NOVEMBER
2020 & EC/NOVEMBER 2022
The consumer p. 2
• Banking and payment methods p. 8
• Consumer protection policies and practices p. 15
Housing and interior p. 21
• Spatial planning p. 21
• The choice of furniture p. 2...
Previous exam papers were used to compile these notes. SACAI NOV 2019 – 2021. EC/NOVEMBER
2020 & EC/NOVEMBER 2022. These are only suggested answers from the memorandums. Some
information is repeated, I want to show you the different ways the same information is asked.
I encourage you to answer the calculation/illustration questions.
Good luck. Juffrou Ansie
The consumer p. 2
• Banking and payment methods p. 8
• Consumer protection policies and practices p. 15
Housing and interior p. 21
• Spatial planning p. 21
• The choice of furniture p. 29
• Evaluation criteria for purchasing furniture p. 33 - 36
@Juffrou_Ansie
, 2
The consumer
Factors influencing the spending patterns of South African households. (SACAI JUN 2021)
• The socio-economic level: of an individual or a household / Financial resources
and disposable income. The less income you earn, the more you spend on basic
necessities and education. The more income you earn, the more you spend on
luxury goods and designer clothes.
• Types of households and the stage in the family life cycle: Households with
children in school spend the most money on
school fees and sports. / Households with
adult children who have already left the
household spend money on personal
interests.
• Age: Depending on your age, you will
spend your money on different things.
• Needs: Depending on which needs are
fulfilled or which need to be met (according
to Maslow), it will affect how and what you
spend your money on. Clothes can be a
need for someone living on the streets.
• Place: A rural area versus a suburban area means that you need money
differently and spend money on transport for example.
• Preferences: Preference on where to buy and which brands you prefer affects
how you spend your money, e.g. organic food is more expensive.
Nomsa and Peter are expecting their first baby. They decided to start saving for their
daughter's future, as well as start an investment for her tertiary education. They also
want to save for a new home and their retirement. Their priority is to save up for all the
baby items they will need when the new baby girl is welcomed home.
@Juffrou_Ansie
, 3
The best choice for each of Nomsa and Peter's financial goals:
Investment for their daughter's education: Fixed Deposit Account = They will have a
fixed interest rate and can decide the date for withdrawal of the funds.
Savings on essential baby items: Savings Account | current account. They will be able
to save and spend money as needed; there is no time/date limit on the investment.
• Know exactly how much money is available.
• Stay in control of your money.
• Prevent impulsive spending.
• Keep track of spending.
• Create a savings plan to cover unexpected expenses.
• Achieve financial goals by saving.
• Pay off debt and live within your means by spending less.
Corrective actions if the income and expenses do not balance. (SACAI NOV 2019)
• Increase income or earn more
money.
• Spend less money or reduce
expenses
Steps for setting up a budget (SACAI NOV 2021)
Step 1: List planned income
Step 2: Estimate expenses
Step 3: Calculate the difference between income and expenses and determine savings
/ Compare income and expenses
• An expenditure plan / detailed breakdown for a specific period over time where
the income and expenses are estimated /
planned.
Other sources of income for households, excluding
salary.
• Temporary wages, social allowance,
pension, WVF, state pension, investments /
business profits, fringe benefits, income from
products.
How the household composition / the type of
household affected her expenditure pattern.
• Nwabisa shares with 2 other friends / there are 3 of them sharing.
• All 3 earn an income therefore there will be more disposable income.
@Juffrou_Ansie
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