Voluntary Arbitration

question 54

Multiple Choice

Voluntary arbitration

• A) is controlled by the courts.
• B) allows parties to set guidelines.
• C) is always binding.
• D) is a very formal process.

---

Definitions:

Opportunity Cost

The cost of forgone alternatives; the value of the next best choice that one gives up when making a decision.

Keg

A keg is a small barrel traditionally used for transporting and storing large quantities of liquid, especially beer.

Pizzas

A popular dish made from flattened dough topped with tomato sauce, cheese, and various other ingredients, baked at a high temperature.

Production

The process of translating raw materials or inputs into finished goods or services through the application of labor, tools, and technology.