Pareto optimality 

Glad it helped!

Glad you found it helpful!

@Ayaan Brantley dafug

@Emiko Lenox the fug?

Great point. I’ll remember that as I make more - feedback like that is really helpful, thank you!

OC only takes scarcity and choices into outcome and doesn't necessarily tell us which party is made better or worse off. That's what I feel

@@007bishop2 true, doesnt take welfare of people into considersation

I’m not clear on your question. Could you clarify it for me?

@@EnhanceTuition first thank you for your response, well, I wanted to ask about the case where we have a game where players have to choose candidates by giving the ranking of each candidate (means their preferences, example: I could prefer candidate a than candidate c than candidate d) I want to know what does it mean pareto optimal in this case, thank you

Say its a cricket game.. Also player A is a good bowler and B a good batsman whereas C is a good wicket keeper... If it is decided to choose player A and B removing C then u lose good wicket keeper.. If it is decided to choose player B and C then a good bowler is loosed.. its like making better off with worse off.. It quite resembles with opportunity cost analysis..

@@amarthapa457 indian/desi spotted

This question has an immoral basis. I certainly won’t dignify it with a response.

@@EnhanceTuition Sir, this is an actual question at the UPSC, or the civil service exam in india, you're response is great tho hahah! According to google its based on adam smiths theory on slavery or something. In india ppl memorise these and write exams so they can get ranked higher and receive pension when they retire along with an adequate salary even in the most mundane jobs