OTE2601 Assignment 2 Semester 2 2023 answers
Question 1
1.1)
• An unskilled occupation which requires no training, doing basic work, such as
... [Show More] cleaners, bus conductors
and hospital porters. Training is done on the job when it is required to maintain standards and to stay on
top of any changes.
• A semi-skilled occupation requires a certain amount of basic training, which is normally provided by
the company or the employee who’s position you are taking over, for example: factory machine
operators, typist’s or waiters. Sometimes refresher courses are given to these employees depending on
if they need it.
• A skilled occupation is one where a few years of training and practice is necessary, for example:
Jewellers, electricians, carpenters, secretaries and building supervisors.
• A professional and managerial occupation normally requires a qualification from a tertiary educational
institution (Degrees, diplomas, higher certificates) for example, lawyers, social workers, teachers,
doctors, engineers, opticians and chemists.
1.2) Same as above.
Question 2
2.1)
• Fees – Used by schools or universities for study fees
• Lobola – In marriage, the funds paid to the family
• Salary – The money received at the end of the month by an employee for the work did during the
month.
• Income – Is the amount paid in (Money received)
• Expense – Is the amount paid out (Money spent)
• Pension – Persons who have retired receive this income monthly
• Tax – Money paid over to the government monthly by an individual or business (Income tax,
provisional tax)
• Pocket Money or allowance – is money paid to children to use for lunch at school or to buy toys with.
2.2)
Little experience is needed as they are working with a person who is familiar with everything of
which they can learn from
Less risk of failure as it is a familiar and already started up business
Consumers are more comfortable with your services or product as the brand is already
established
Initial assistance and financial support is given from the person giving the right to do business
Training is provided in administrative aspects
Marketing and advertising is already established and does not need to be done from scratch
Receiving more discounts as the quantities ordered will be in bulk or big enough for discounts
Credit already available for stock purchases
Profit is easily or easier made (where income is greater than expenses) is reached more quickly
2.3.1)
Grocery Stokvel - These stokvels are com [Show Less]