Blog tagged as Concept

Pareto efficiency refers to a situation where no party (individual or preference criterion) can be made better off without making at least one other party worse off. A Pareto efficient outcome is an action which helps at least one person while harming no one. For instance, suppose you and I are eati...

A morpheme is the smallest meaningful unit in a language. A morpheme is not identical to a word. Whereas words, by definition, always stand alone, a morpheme sometimes does not stand alone. For example, the word incoming is comprised of three morphemes: in, come and ing. Every word is made up o...