Question

What is meant by variable factor and mix factor? Give two examples of each

Answer 1

Variable factors:It means the factor which can change with change in output. In other words when output is zero or .

maximum variable factors are also zero and maximum. Its example:raw materials,power,fuel,etc.

Mix factors:It means which includes all the production faction (i.e:land, labour, capital and entrepreneurship)

I hope it will help you,