New and Digital Media

        What is Pareto's law?

Pareto's law is the 80-20 rule, which means that roughly 80% of the effects come from 20% of the causes. A common example is that 80% of your sales come from 20% of your clients. The Pareto principle is only related to Pareto efficiency. Pareto developed both concepts in the context of the distribution of income and wealth among the population. 

      What other industries or examples can you apply to the 80/20 rule to?
One industry that you can apply to the 80/20 rule is