Question

Example of variable and fixed factors.

Answer 1

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i.) Variable factor :- Labour wages, power fuel
ii.) Fixed factors :- Land, capital, machinery

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Answer 2

Buildings, land, machinery, plants and top management are some commonexamples of fixed factors. A variable factor, on the other hand, is one whose quantity may be changed in response to a change in output. Raw materials, ordinary labour, power, fuel, etc. areexamples of variable factors.