ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Fixed costs include any number of expenses, including rental lease payments, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities. For instance, someone who starts a new business would likely begin with fixed costs for rent and management salaries.

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: -Fixed cost is a business expense that does not change regardless of the activity level of the business. Examples of fixed costs include rent, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities.

Detailed explanation-4: -Fixed costs can include property taxes, rent, salaries and the cost of benefits for non-sales and management personnel.

Detailed explanation-5: -In the case of a restaurant or grocery store, the fixed costs are lease and rent payments, property tax, insurance, interest payments etc. The variable costs can be pointed out as labor costs or wages, cost of raw materials, cost of packaging etc.