If it is not possible to reallocate inputs and outputs in such a way that some will be better off while nobody will lose, this property is referred to by economists as:
A) Non-Pareto optimal.
B) Pareto optimal.
C) Efficient.
D) Inefficient.
E) None of the above.

Question

Quizplus · Accepted Answer

Pareto optimal, or Pareto efficiency, is a state where resources are allocated in the most efficient way possible, such that it is not possible to reallocate them in a way that would make someone better off without making someone else worse off.

If It Is Not Possible to Reallocate Inputs and Outputs