What Is the Term of the Following Definintion

question 57

Short Answer

What is the term of the following definintion.
-state of allocation of resources in which it is possible to make any one individual better off without making at least one individual worse off.

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Definitions:

Henry Ford

An American industrialist and founder of the Ford Motor Company, known for revolutionizing the automobile industry with assembly line production methods.

Unemployed

Individuals who are without a job but are actively seeking employment.

1937-1938

A period marked by a sharp economic downturn in the United States, considered a recession within the Great Depression era.

American Revolution

The period of political and military action (1775-1783) during which the thirteen American colonies won independence from Great Britain, leading to the establishment of the United States of America.