Which of the Following Statements Illustrates the 80/20 Rule

question 47

Multiple Choice

Which of the following statements illustrates the 80/20 rule?

• A) "80 percent of our target market doesn't respond to our marketing mix, and we only have a 20 percent market share."
• B) "Of the hundred retailers who carry our products, the top twenty account for nearly 80 percent of our total business."
• C) "20 percent of our marketing effort is wasted, but we don't know which 20 percent."
• D) "We don't know whether our profits are 20 percent higher than we deserve, or only 80 percent of what might be easily obtained."
• E) None of these is correct.

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Definitions:

Compelled

Forced to do something or feeling a strong urge or pressure to perform an action.

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prohibits the government from taking private property for public use without fair compensation.

Private Property

Ownership of land, resources, or objects by individuals or corporations, protected by law.

Just Compensation

The concept that property owners must be fairly compensated when their property is taken for public use under eminent domain.