Many Parties Are Now Using Alternative Methods of Dispute Resolution

question 4

Multiple Choice

Many parties are now using alternative methods of dispute resolution outside the courts for which of the following reasons?

• A) Court trials have high money and time costs.
• B) Court trials are becoming increasingly hard to get.
• C) Many parties think they will have a better chance of getting what they want.
• D) All of these choices are correct.

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Definitions:

Labor

The human effort, including physical and mental skills, employed in the production of goods and services within an economy.

Demand

The desire accompanied by the ability to pay for goods or services, determining the quantity that will be bought at a given price level.

Marginal Revenue Product

The additional revenue generated from the sale of one more unit of a good or service produced as the result of one more unit of an input.

Wage Rate

The fixed amount of compensation or payment received by an employee from an employer in exchange for work or services performed.