Explain What the 85/15 Rule Is

question 12

Short Answer

Explain what the 85/15 rule is.

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Definitions:

Welfare State

A government system that provides a range of social security and welfare benefits to its citizens.

Income Inequality

The unequal distribution of income within a population, leading to disparities in wealth and living standards.

Wealthy Country

A nation characterized by a high standard of living and a strong economic system, usually measured by gross domestic product (GDP) per capita.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification, which can be either upward or downward in nature.