What is the election system called where each party receives a number of legislative seats corresponding to its proportion of the vote?

The election system referred to in the question is Proportional Representation. This system is designed to create a legislature in which the number of seats held by each political party closely matches the percentage of the total votes they received in an election. For instance, if a political party gains 30% of the overall votes, proportional representation would aim for that party to receive approximately 30% of the legislative seats. This mechanism is intended to provide a more accurate reflection of the electorate's preferences compared to systems like First-Past-The-Post, which can result in significant disparities between the percentage of votes received and the number of seats allocated to each party. Proportional representation often leads to a multi-party system, fostering more diverse representation in government.