What Does the 80:20 Rule Say

question 52

Multiple Choice

What does the 80:20 rule say?

• A) Eighty percent of sales will come from twenty percent of customers.
• B) For every 80 people who look at a product, 20 will buy it.
• C) For every 80 customers, 20 will be repeated customers.
• D) Eight percent of customers are only interested in 20% of available merchandise.

Evaluate the effects of technological changes on labor markets.

Analyze the relationship between the price of output and the rental price of capital equipment.

Understand the effects of a change in the market price of goods on labor demand and wages.

Understand the effects of changes in wages on the supply and demand for labor and other factors of production.

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Definitions:

National Banks

Financial institutions chartered by the federal government, subject to national banking laws and regulations.

State Banks

Financial institutions that are chartered by a state to provide banking services, distinct from those chartered by the federal government.

NOW Accounts

Negotiable Order of Withdrawal accounts; interest-earning deposit accounts from which holders can write checks.

Money Supply

The inclusive amount of economic monetary assets present at a particular instance in an economy.