What is the meaning behind the name 'parsec'?

Answer

A contraction of *PARallax of one arcSECond*

The term parsec is derived as a contraction of the phrase 'PARallax of one arcSECond.' It is defined as the distance at which a star exhibits a parallax angle of exactly one arcsecond ($1''$).

What is the meaning behind the name 'parsec'?
measurementSpaceastronomyunits