Topic 1 T2 to 1.8

Question 1

What is Gambling

Answer 1

-Betting on something with an uncertain outcome

Question 2

What are the forms of Gambling

Answer 2

• Casino’s
• Lotto
• Horse races

Question 3

Things about Gambling

Answer 3

• Gambling is addictive
• People keep on gambling because they believe that they will win the next time
• The National Responsible gambling programme was launched to educate people about gambling

Question 4

How does the pyramid scheme work

Answer 4

• Is a type of deceiving scheme
• One person is on top of the pyramid scheme (this person invests money in the scheme)
• This person rercruits others on the second level of the pyramid (each one of the new recruits also invest in the scheme)
• The people on the second level also has to recruit people to invest in the scheme
• The person on top of the pyramid gets money from all those below him
• The people on the lower levels gets money from those below them
• The problem with pyramid schemes is that new investors usually dry up quickly
• People are deceived into believing that they are going to make money, but it is just a question of time until the pyramid collapses

Question 5

What is Illegal Gambling

Answer 5

• The National Gambling Act (act 33 of 1996) specifically allows gambling activities at certain venues
• Gambling that the act does not make provision for is illegal
• Illegal gamblers do not pay taxes
• Illegal gambling can cause damage and financial problems because in the illegal industry gamblers are not informed about the dangers of gambling
• Money earned by illegal gambling are often used to finance other illegal activities

Question 6

What is Money Laundering

Answer 6

-Hidind the source of illegal income
Money can be gained in various illlegal ways
Money gained illegally is known as “dirty laundry)
Dirty money is sometimes used to operate illegal businesses with
The money made by legal businesses looks like “clean” or “washed” money.

Question 7

Gambling, pyramid schemes, illegal gambling and money laundering has what effects on business operations

Answer 7

• Theft
• Rehabilitation costs
• Loss of production
• Criminal charges

Question 8

What is Piracy

Answer 8

• Takes place when copies of goods that are protected by copyright of trademark legislation are made without the necessary permission
• Products that are usually copied are computer software,CD’s and DVD’s
• Consumers create a need for counterfeit (fake) products
• If no one buys counterfeit goods then criminals will not be able to sell them

Question 9

What is Intellectual property

Answer 9

-A product for example a work of art that was created by someone mind
Intellectual property belongs to it’s creator

Question 10

What is Copyright

Answer 10

-Only the owners of intellectual property has the right to produce and copy it.

Question 11

What is patent

Answer 11

• An invention

- Someone who holds a patent has exclusive rights to produce and copy the invention

Question 12

What is trade mark

Answer 12

• A unique mark that represents the business and belongs to the business
• Includes words.slogans,designs,signs and symbols
• Registered trademarks may not be used by anyone other than the business/person to whom it belongs

Question 13

How are business operation affected by piracy

Answer 13

• Financial loss

- Businesses that are found guilty of selling counterfeit goods can be fined and the owner can be criminally prosecuted.

Question 14

What is Counterfeits and imitations

Answer 14

-is a copy of the original product.

Question 15

Facts about Counterfeits

Answer 15

• Counterfeit products often have a trademark that looks like original and popular trademarks
• The quality of counterfeit goods is usually inferior to that of the original
• Counterfeit goods are usually a lot less expensive than the original
• Authorities confiscate counterfeit goods

Question 16

What is Bootlegging

Answer 16

-refers to smuggling.

Question 17

What is Smuggling

Answer 17

• takes place when goods are brought into a country illegally.
• Smuggling generally occurs to avoid taxes, or because the goods are illegal e.g. counterfeits or drugs.

Question 18

How are business operation affected by Counterfeiting, imitations and bootlegging

Answer 18

-Business enterprises lose money that could have been used for expansion and the creation of job opportunities.
Counterfeits often result in price increases of original goods.

Question 19

What is a strike

Answer 19

• A strike is usually the result of a labour dispute.
• A strike takes place if workers refuse to work.
• The most common reasons for strikes are wages, working hours and working conditions.
• Fewer or even no goods are produced while workers strike.
• Once workers return to work, they often needs to work overtime to make up for all the lost production time.

Question 20

What is labour disputes

Answer 20

-A labour dispute is a conflict of interest between members of a trade union and their employer.

Question 21

What are the Different kinds of strikes

Answer 21

• “Go-Slow”/Go-slow
• Sympathy strike
• Sit-down strikes
• Wildcat strikes
• Work to rule
• Lockout

Question 22

What is political disturbance

Answer 22

• A political disturbance refer to any conflict on the political front.
• Investors prefer investing money in countries that are politically stable.

Question 23

How are business operation affected by Strikes, labour disputes and political disturbances

Answer 23

• Strikes, as well as political disturbances, scare off potential investors.
• Strikes result in production losses.
• Sometimes, a strike is so severe that a business has to close down.
• Strikes result in income losses.