Examlex

Solved

The 80-20 Rule Is Also Known as The__________

question 9

Essay

The 80-20 rule is also known as the__________ .


Definitions:

Fixed Cost

A cost that does not vary with the level of output or sales, such as rent, salaries, and insurance premiums.

Overhead Cost

Indirect expenses related to the operation of a business, such as rent, utilities, and administrative salaries, that are not directly tied to the production of goods or services.

Total Revenue

The complete amount of income generated by a business from its sales or services before any costs or expenses are subtracted.

Marginal Costs

The cost added by producing one additional unit of a product or service.

Related Questions