Question : In terms of economics, if it is possible to make someone better off without making someone worse off, then the situation is
Option 1: inefficient
Option 2: efficient
Option 3: optimal
Option 4: pareto-superior
Latest: SSC CGL Tier 1 Result 2024 Out | SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL Tier 1 Scorecard 2024 Released | SSC CGL complete guide
Suggested: Month-wise Current Affairs | Upcoming Government Exams
Correct Answer: pareto-superior
Solution : The correct answer is Pareto-superior .
In economics, if it is achievable to make one person better off without making another person worse off, the scenario is referred to as a Pareto improvement or efficiency. A Pareto improvement happens when the well-being or utility of at least one individual is raised without reducing the well-being or usefulness of any other individual.
Candidates can download this ebook to know all about SSC CGL.
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Question : "Economics is what it ought to be" - This statement refers to
Question : One of the following is "Labour" in economics.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile