Answers
PST311L A2 S1
- Institution
- University Of South Africa (Unisa)
PST311L-Economic Literacy and Entrepreneurship, Assignment 2, Semester 1 2018, marked.
[Show more]
1 review
By: Zetsche • 5 year ago
Content preview
PST311LSemester 1
Assignment 2
Unique Number: 739347
___________________________________________________________________________
Contents
Page no.
Question 1 2-3
Question 2 3-4
Question 3 4-5
Question 4 5
References 6
1
, Question 1
1.1 The rights of the consumer:
The right to receive correct information and should be protected against insincere and
deceptive information.
The right for consumers to purchase products which are not hazardous to their health
or lives.
The right to choose from a variety of products.
The right to obtain products or services at reasonable prices.
The right to voice their needs as to the kinds of products they require and the type of
quality they expect.
1.2 Buying and Selling:
Each time goods are bought and sold, the buyer and seller have to reach an agreement called
a sales contract.
Before a sales agreement is binding, the buyer and seller have to agree to certain conditions:
The item which is being bought.
The price to be paid.
If the goods that are bought are to be transported and a freight rate is charged, the buyer and
seller should agree if the freight rate should be included in the price or not. Hence, the
following quotations of prices are found in sales contracts:
Local Price: Transport prices are not included and have to be paid for by the buyer.
Free on Rail (FOR): The seller pays the transport cost to the sellers station.
Rail charges paid: The price includes the rail charges, which is paid by the seller.
1.3 The Quality of Goods
Sellers can indicate the quality of their goods as followed:
A description whereby the seller describes the quality of the product.
A sample. The seller sends a sample of the goods to the buyer, for example, soap.
This sample will have the same quality as the rest of the goods which will be bought.
A trademark. The seller puts a special sign/symbol on the product. The sign/symbol
must not be used by other sellers and must be registered. The use of a trademark
allows the seller to show that all his products are of the same standard.
By refusing inferior products or products which waste resources, or by reporting
dissatisfaction to the manufacturers, will be beneficial to many consumers.
The goods that are produced and the services that are offered should match the values
of the community.
Sellers and manufacturers who have the interest of the consumer at heart are
interested to know why consumers are dissatisfied.
Consumers should have the correct information when they complain.
Consumers should complain to the right person or department.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Karish201. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R60,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now