In a Contractual Dispute Between Buyer and Seller,the Process of Elevating

question 2

Multiple Choice

In a contractual dispute between buyer and seller,the process of elevating the discussion from buyer and sales representative to their supervisors and up through the organization before other forms of dispute resolution are pursued.

• A)arbitration.
• B)mediation.
• C)negotiation.
• D)adjudication.
• E)internal escalation.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.

Demand Increases

A situation wherein there is a rise in the quantity of a product or service sought after by consumers at a given price level.

Equilibrium Price

The price level at which the amount of products available for sale matches the amount consumers want to buy.