Which of the Following Would Refer to the 80/20 Rule

question 12

Multiple Choice

Which of the following would refer to the 80/20 rule when applied to the ABC inventory control system?

• A) 80 percent of the items account for 20 percent of the groups.
• B) 20 percent of the items account for 80 percent of the tasks.
• C) 80 percent of the unit cost accounts for 20 percent of the items.
• D) 80 percent of the total annual $ usage is accounted for, by 20 percent of the items.
• E) None of these.

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Definitions:

Product Advantage

Product advantage refers to the unique benefits or value that a product offers over its competitors, making it more appealing to customers.

Segmentation Variable

Criteria or characteristics used to divide a market into distinct subsets, which can then be targeted by marketing strategies.

Instant Rice

Precooked rice that has been dehydrated so that it cooks more rapidly than regular rice.

Product Feature

An attribute or functionality of a product that contributes to its desirability or usability.