Difference between selecting a large pool of individuals for reproduction, and selecting two parents specifically
The approach defined in 1 is known as Elitism approach or Elitism based selection, which is usually done by selecting the fittest individuals. link1 and link2.

The approach defined in 2 is commonly known as crossover where 2 individuals are repeatedly selected via different algorithms like Tournament selection, Roulette wheel, etc. until the max population is reached.