Brooke, a fellow student, asks you to explain Pareto's law because she has heard it mentioned as a way to establish priorities. Your answer should center on which of these?

A) The 80/20 principle
B) Cycle time reduction
C) Diminishing returns
D) Time management
E) The A-B-C system

Pareto's Law

A principle stating that a small proportion of causes is responsible for a large portion of the effect, often summarized as 80% of effects come from 20% of causes.

80/20 Principle

The 80/20 Principle, also known as the Pareto Principle, is the idea that roughly 80% of effects come from 20% of causes, often observed in business, economics, and various other fields.