Grade 12 Study Guides T. Holomisa, E. M. J. C schaller, D. J. Brown, B. de Klerk



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Gr12-Tourism-Study-Guide LR

Term 3

Topic 1
1. Electronic fund transfer
(2)
2. It is safe and secure, It is efficient and fast, It is less expensive than paper cheque payments and collections, Money can be transferred throughout the world.
(8)
3. Telegraphic transfers area method of electronic funds transfer from one person or institution to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. Wire transfer systems are intended to provide more individualized transactions than bulk payment systems.
(4)
4. (One of the two listed below) If you are stuck overseas without cash, someone at home can send you money electronically within a day OR You do not need Internet banking as the banks send the information directly to each other)
5. They can save time, No need to stand in long queues to pay a bill, People can log into their accounts at anytime to get an up-to-date statement of their transactions, Low transaction costs/fees.
(8)


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6. No internet access can cause late payments, There is no direct contact with the business from which a product or service is purchased, Computer crimes may result in money being stolen, Criminals record a user’s keystrokes and then use this information to illegally access accounts.
(8)
7. A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are preset according to the individual's credit rating.
(4)
8. Cards can be used to buy expensive items as the debt can be paid off overtime, They avoid having to carry large amounts of cash, Most businesses accept credit cards as a form of payment.
(6)
9. Foreign market share is the portion of the inbound tourism market that a specific country controls and includes both the number of tourists and the amount they spend.
(4)
10. Land markets and air markets.
(4)

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