A situation in which it is impossible to make anyone better-off without making someone worse-off is said to be

Related MCQs

• According to AC Pigou, any reorganization of the economy which increases the share of the poor without reducing the national income is also considered an
• The first condition of which economist states that welfare is said to increase when national income increases
• The return to a factor of production which is fixed in supply in the short period is called
• Which of the following is not included in the assumptions of Clark’s marginal productivity of distribution
• Which among the following is NOT an assumption of Pareto optimality?
• In order to maximize profits, a firm should produce at the output level for which
• Which of the following is not a factor of production?
• A monopolist maximizes profit by producing the quantity at which
• Which of the following is a characteristic of capital as a factor of production?
• On which law of consumption the concept of consumer’s surplus is based?