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: -Examples of fixed costs are rent and lease costs, salaries, utility bills, insurance, and loan repayments. Some kinds of taxes, like business licenses, are also fixed costs.

Detailed explanation-3: -Utilities are a variable cost because the amount of money spent may change depending on the amount of electricity and water used during the billable time period.

Detailed explanation-4: -Transport costs are the costs internally assumed by the providers of transport services. They come as fixed (infrastructure) and variable (operating) costs, depending on conditions related to geography, infrastructure, administrative barriers, energy, and how passengers and freight are carried.