The vast majority of your problems will account for a minority of your profits or losses.What is this principle called?
A)the cost-benefit principle
B)the 80/20 principle
C)the rational and intuitive principle
D)the time management principle

Question

Quizplus · Accepted Answer

This principle is commonly known as the 80/20 principle or the Pareto principle, named after Italian economist Vilfredo Pareto. It states that 80% of the effects come from 20% of the causes. In business, this means that the majority of your profits will come from a minority of your products or customers, while the majority of your losses will come from a minority of your problems or expenses. Understanding and applying this principle can help you prioritize your efforts and resources to maximize your profits and minimize your losses.

The Vast Majority of Your Problems Will Account for a Minority