In a Business Organization, the "80/20" Rule Relates To

question 15

Multiple Choice

In a business organization, the "80/20" rule relates to:

• A)work accomplished vs.people who perform it.
• B)the average input/output ratio of production processes.
• C)the value of a "good" problem solution vs.its cost.
• D)"key" products vs.product line "fillers."

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Definitions:

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.

Selling Expenses

Costs incurred directly and indirectly from selling products or services, such as advertising, commissions, and shipping costs.

Merchandise

Goods bought and sold by businesses, typically in the retail industry.