The "80/20 Rule" Says That

question 71

Multiple Choice

The "80/20 rule" says that:

• A) only 20 out of every 100 firms use formal accounting controls.
• B) a firm should hire 20 sales reps for every 80 customers.
• C) marketing accounts for 80 percent of a typical consumer's dollar.
• D) even though a firm is showing a profit, 80 percent of its business might be coming from only 20 percent of its customers.
• E) usually about 20 percent of a firm's customers are unprofitable.

---

Definitions:

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.

Biological Perspective

An approach to psychology focusing on the physiological causes of behavior and the impact of genetics and biological processes.

Interrelations

The way in which two or more things or phenomena are related or connected to each other.

Mind

The set of cognitive faculties that enables consciousness, perception, thinking, judgement, and memory.