alleryStart learning →The ABC concept is based on whose law?
APareto's law
BParkinson's law
CSay's law
DGresham's law
Answer & Solution
Correct answer: A. Pareto's law
ABC classification draws on Pareto's law of the vital few and trivial many.
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Related questions
An item needs 500 units a year at Rs 40 each. What is its annual usage value?After computing usage values, items are arranged in which order?In ABC analysis, how is an item's annual usage value computed?ABC class thresholds are what?Class B holds 30% of items. About what share of annual consumption value does it hold?Half of all items fall in class C. Roughly what share of consumption value do they hold?ABC analysis resembles which principle, where few items carry most value?Which class gets the simplest controls and minimal records?