The 80/20 Rule Is When a Relatively Small Proportion of People

question 7

True/False

The 80/20 rule is when a relatively small proportion of people, products, and places are responsible for or associated with a high proportion of crimes and other negative actions.

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Definitions:

Health Insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured, often including benefits for preventive care and health-related services.

Efficiency Loss

The loss of economic efficiency that occurs when the optimal allocation of resources is not achieved, often due to market failures or externalities.

Health Insurance

An insurance policy that covers or reimburses the policyholder for their medical and surgical costs resulting from sickness or injury.

Efficiency Loss

The economic cost arising when market transactions do not allocate resources in the most beneficial way for society, often manifesting in deadweight loss.