One Reason for Avoiding Greater Use of Interest Arbitration Is

question 59

Multiple Choice

One reason for avoiding greater use of interest arbitration is the belief that:

• A)the arbitrator cannot provide an entirely objective solution.
• B)the parties closest to the situation are in the best position to effectively resolve their conflicts.
• C)the costs incurred in the process of arbitration surpass the benefits.
• D)arbitration issues can destroy the image of the company in the eyes of the public.

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Definitions:

Exchange and Trade

The act of giving something of value in return for something else, pivotal for the functioning of economies and fostering economic relationships.

Centrally Planned Economy

An economic system where the government makes all decisions about what goods and services are produced, how they are produced, and who receives them.

Profits

The financial gain obtained from the difference between the amount earned and the amount spent in buying, operating, or producing something.

Corporation

A legal entity (“person”) chartered by a state or the federal government that is distinct and separate from the individuals who own it.