Examlex
Which pay frequency has 24 pay periods annually?
Pareto Efficient
A condition in which no individual's situation can be improved without worsening the situation of another individual.
Public Good
A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
Private Good
A product or service that is consumed by an individual and cannot be used or consumed by others once it is purchased.
Pareto Optimal
Pareto optimal describes a state in an economic system where it’s impossible to make any one individual better off without making at least one individual worse off, indicating an efficiency in resource allocation.
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