The 80/20 Principle States That Roughly 80 Percent of a Product's

question 82

True/False

The 80/20 principle states that roughly 80 percent of a product's revenues come from only 20 percent of its buyers.

---

Definitions:

Profitably Self-Sort

A situation where consumers or entities voluntarily segregate themselves based on their preferences or profitability criteria, often observed in markets.

No-Name

Products that are sold without a brand name, often at lower prices than their branded counterparts.

High-End

Referring to products or services of superior quality and often higher price, targeted towards a market segment that appreciates or demands luxury and top-tier performance.

High-End Wok

A high-end wok is a premium quality cooking utensil, typically made of superior materials, designed for stir-frying and other cooking techniques, offering better heat distribution and durability.