Answer:
It was a term used for peace that was established on the soil of the Empire during the reign of Octavian Augustus. It is important because it allowed the Empire to stabilize and resolve economical and all other problems.
Step-by-step explanation:
Peace was established during the reign of Octavian Augustus, the first Roman emperor, and it lasted more than 200 years. Roman Empire was stabilized from the inside, and besides conflicts with the border tribes they didn't had major problems in the country until the death of emperor Marcus Aurelius.