Examlex
The internment of Japanese Americans during the Second World War was based on ____________________.
Pareto Efficient Allocation
A situation in economic theory where resources are allocated in such a way that it is impossible to make any one individual better off without making at least one individual worse off.
Pareto Optimal Allocation
A resource distribution scenario where no individual can be made better off without making at least one individual worse off.
Utility Function
A mathematical representation of how different combinations of goods or services provide levels of satisfaction or utility to an individual.
Initial Endowment
The initial allocation or distribution of resources, goods, or wealth among individuals or entities at the start of an economic experiment or model.
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