ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Periodic Expenses are items such as insurance or vehicle registration which may be paid annually or quarterly instead of monthly. It is important to set money aside for periodic expenses and unplanned emergencies.

Detailed explanation-2: -Typical fixed expenses include car payments, mortgage or rent payments, insurance premiums and real estate taxes. Typically, these expenses can’t be easily changed. On the plus side, they’re easy to budget for because they generally stay the same and are paid on a regular basis.

Detailed explanation-3: -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-4: -Examples of expenses include rent, utilities, wages, salaries, maintenance, depreciation, insurance, and the cost of goods sold.