In which field did Pareto make significant contributions?
Biology
Economics
Astronomy
Medicine
Answer
Economics is the field where Pareto made significant contributions. He is renowned for his development of the Pareto principle, also known as the 80/20 rule, which states that in many situations, approximately 80% of the effects come from 20% of the causes. Pareto also contributed to the study of income distribution, developing the Pareto distribution, which describes the distribution of income in a society.
Mastering Pareto: Exploring the Legacy of Vilfredo Pareto in Sociology and Economics
More Questions
What concept is Pareto best known for in economics?
What principle is named after Vilfredo Pareto?
According to Pareto, what percentage of Italy's wealth was owned by 20% of the population?
What type of distribution did Pareto discover in income?
Besides economics, which other field did Pareto contribute to?
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