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Cost Of Production and Concept of Revenue — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsCost Of Production and Concept of Revenue2 Marks
Question
What is fixed cost ?
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Answer

  • The cost which remain stable or no change where the production increase, decrease or stable in short period, then that cost is called fixed cost.
  • Fixed cost has no relation with the units of the product in short period.
  • Generally, the rent of premises, permanent labours wages, interest of capital, license fee , insurance premium etc. are fixed cost.

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