Final answer:
A serious drama that prompts pity or fear and explores deep questions of human existence is known as a tragedy.
Step-by-step explanation:
A serious drama that examines humankind's existence and can evoke pity or fear is called a tragedy. This form of drama, with its roots in ancient Greek theatre, revolves around the protagonist's ethical choices and often includes their downfall due to a tragic flaw or hamartia. The pleasure derived from a tragedy comes from the cathartic effect of pity and fear, which was extensively described by Aristotle in his work Poetics. Dramatic works like Sophocles' Oedipus Trilogy or Shakespeare's Hamlet are classic examples of tragedy, portraying characters of significant stature experiencing a fall from grace, thereby inspiring the requisite emotions in the audience.