ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).

Detailed explanation-2: -Fixed expenses: These are costs that largely remain constant, such as your monthly rent or mortgage. Variable expenses: These are costs that vary or are unpredictable, such as dining out or car repairs.

Detailed explanation-3: -A fixed expense is a bill that doesn’t change from month to month. Your monthly mortgage payment, insurance premiums, and childcare costs are examples of fixed expenses. Fixed expenses can occur weekly, monthly, quarterly, or annually.

Detailed explanation-4: -Fixed costs are one of two types of business expenses. The other is variable costs. Fixed costs are expenses that a company pays that do not change with production levels. Rent is one example.