Brooke, a Fellow Student, Asks You to Explain Pareto's Law

question 79

Multiple Choice

Brooke, a fellow student, asks you to explain Pareto's law because she has heard it mentioned as a way to establish priorities. Your answer should center on which of these?

• A) The 80/20 principle
• B) Cycle time reduction
• C) Diminishing returns
• D) Time management
• E) The A-B-C system

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Definitions:

Unreasonably Dangerous Product

In product liability, a product that is defective to the point of threatening a consumer’s health and safety. A product will be considered unreasonably dangerous if it is dangerous beyond the expectation of the ordinary consumer or if a less dangerous alternative was economically feasible for the manufacturer, but the manufacturer failed to produce it.

Tort Action

A lawsuit brought to obtain a private civil remedy for harm caused by wrongful conduct.

Strict Liability

A legal doctrine that holds a party responsible for their actions or products without the plaintiff having to prove negligence or fault.

Product Liability

The legal liability of manufacturers, sellers, and lessors of goods to consumers, users, and bystanders for injuries or damages that are caused by the goods.