ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Variable expenses are things you have to pay for that may change from month to month. Some examples include gas, parking, and tolls. Groceries, eating out, electricity or other usage-based bills, and household items like toiletries and cleaning supplies are some other examples of variable costs in your budget.

Detailed explanation-2: -Some examples of variable costs include: Food costs, such as groceries and dining out.

Detailed explanation-3: -Variable costs change based on the amount of output produced. Variable costs may include labor, commissions, and raw materials. Fixed costs remain the same regardless of production output. Fixed costs may include lease and rental payments, insurance, and interest payments.

Detailed explanation-4: -Variable costs are costs that change as the volume changes. Examples of variable costs are raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees.