In Producing a Sweater, a Man Who Shears Sheep Pays

question 35

Multiple Choice

In producing a sweater, a man who shears sheep pays a farmer R76 for a sheep's wool.The shearing shop sells the wool to a knitting mill for r₁33.The knitting mill makes it into a fine fabric and sells it to a sweater-making firm for R247.The sweater-making firm sells the sweater to a clothing store for R380, and the clothing store sells the sweater, gift wrapped, for R950.What is the contribution to GDP of the production and sale of the sweater?

• A)R76
• B)R836
• C)R950
• D)r₁805

Explain the concept of perceptual adaptation and its effects on sensory experiences.

Understand the phenomenon of perceptual constancy and its role in visual perception.

Describe the impact of sensory restriction on perceptual development.

Acknowledge the debate between innate and learned aspects of perception.

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Definitions:

Nominal Rate

The stated interest rate of a financial instrument or loan, not accounting for compounding or inflation.

Effective Rate

The interest rate on a loan or financial product, re-calculated annually, which takes into account the effect of compounding.

Compounding Interval

The frequency at which the earned interest is added to the principal balance of an investment, affecting the total compound interest over time.

Monthly Payment

A specified amount of money that a borrower agrees to pay to a lender at regular monthly intervals, often associated with loans or mortgages.