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प्रश्न
Distinguish between fixed factor and variable factor.
अंतर स्पष्ट करें
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उत्तर
| Sr. No. | Basis of difference | Fixed Factor | Variable Factor |
| 1. | Meaning | A factor whose quantity cannot be changed in the short run. | A factor whose quantity can be changed in the short run. |
| 2. | Time frame | Remains unchanged with output in the short run. | Varies directly with the level of output in the short run. |
| 3. | Examples: | Land, building, plant, machinery. | Labor, raw materials, electricity, fuel. |
| 4. | Cost nature | Associated with fixed cost. | Associated with variable cost. |
| 5. | Role in production | Determines the scale of production. | Determines the volume of production. |
| 6. | Alteration flexibility | Cannot be easily altered or replaced. | Can be increased or decreased depending on production needs. |
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