1 View

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


Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 15th Jan, 2024

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.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
GRE ® Registrations 2024
Apply
Apply for GRE® Test now & save 10% with ApplyShop Gift Card | World's most used Admission Test for Graduate & Professional Schools
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books