The 80-20 Rule, That Is the Logic of the Few

question 30

Multiple Choice

The 80-20 rule, that is the logic of the few having the greatest importance and the many having little importance has been broadened to include inventory situations. The term often used to refer to this logic is called what?

• A) The Peter Principle
• B) The Pareto Principle
• C) Little's Law
• D) The Parkinson Rule
• E) The Elitist Conspiracy

---

Definitions:

Wealthy Landowners

Individuals or entities that possess and control substantial amounts of land, often leading to significant social, economic, and political influence.

Household Incomes

The combined gross incomes of all members of a household or family unit, used as an economic indicator.

Median

The midpoint in a series of values that are arranged in numerical order.

American Dream

The national ethos of the United States, emphasizing freedom, opportunity for prosperity and success, and upward social mobility through hard work.