Adm 106 graded a - Study guides, Class notes & Summaries
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ADM 106 GRADED A+
- Exam (elaborations) • 5 pages • 2024
- Available in package deal
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- $10.49
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What is the definition of economics? - ANS The production, distribution, and consumption of goods and 
services. 
What occurs when competition is low? - ANS Production can be inefficient without being penalized and 
manpower and other resources can be wasted. 
What creates more innovation? - ANS More competition 
Why are companies in business? - ANS To make money 
What is the 1:10:100 Rule? - ANS This is the rule that states it costs $1 to fix in design, $10 to fix in 
production, and $100 to fi...
-
ADM 106 GRADED A+
- Exam (elaborations) • 5 pages • 2024
-
- $11.49
- + learn more
What is the definition of economics? - ANS The production, distribution, and consumption of goods and 
services. 
What occurs when competition is low? - ANS Production can be inefficient without being penalized and 
manpower and other resources can be wasted. 
What creates more innovation? - ANS More competition 
Why are companies in business? - ANS To make money 
What is the 1:10:100 Rule? - ANS This is the rule that states it costs $1 to fix in design, $10 to fix in 
production, and $100 to fi...
-
ADM 106 GRADED A+
- Exam (elaborations) • 5 pages • 2024
-
- $11.49
- + learn more
What is the definition of economics? - ANS The production, distribution, and consumption of goods and 
services. 
What occurs when competition is low? - ANS Production can be inefficient without being penalized and 
manpower and other resources can be wasted. 
What creates more innovation? - ANS More competition 
Why are companies in business? - ANS To make money 
What is the 1:10:100 Rule? - ANS This is the rule that states it costs $1 to fix in design, $10 to fix in 
production, and $100 to fi...
-
ADM 106 GRADED A+
- Exam (elaborations) • 5 pages • 2024
- Available in package deal
-
- $14.02
- + learn more
What is the definition of economics? - ANS The production, distribution, and consumption of goods and 
services. 
What occurs when competition is low? - ANS Production can be inefficient without being penalized and 
manpower and other resources can be wasted. 
What creates more innovation? - ANS More competition 
Why are companies in business? - ANS To make money 
What is the 1:10:100 Rule? - ANS This is the rule that states it costs $1 to fix in design, $10 to fix in 
production, and $100 to fi...
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