What is meant by the term "Concurrency" in software development?

Concurrency in software development refers to the concept of executing multiple tasks simultaneously. This is often essential in applications that require high performance or responsiveness, allowing different parts of a program to run in overlapping time periods.

By enabling tasks to be processed at the same time, concurrency helps maximize the use of system resources, particularly in environments with multi-core processors where multiple threads or processes can be executed truly in parallel. This approach not only enhances performance but also improves user experience by keeping applications responsive, for instance, allowing a user interface to remain interactive while background processing occurs.

The other choices do not accurately encapsulate the full essence of concurrency. Running tasks sequentially pertains to executing one task after another, which is the opposite of concurrency. Developing asynchronous applications does relate to concurrency, but it specifically focuses on the programming model rather than the broader concept of concurrent execution of tasks. Prioritizing specific processes doesn't necessarily imply simultaneous execution; rather, it refers to managing which tasks get executed first based on their importance or urgency.