Is a Dispute Resolution Process Whereby Parties Submit Their Disagreements

question 12

Multiple Choice

is a dispute resolution process whereby parties submit their disagreements to a private individual decision maker they have agreed on or to a panel of decision makers whose selection has been provided for in the contract the parties signed.

• A) Prosecution
• B) Mediation
• C) Litigation
• D) Arbitration

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Definitions:

Units

Standardized quantities used to measure, count, or quantify objects or phenomena.

Good X

A placeholder term commonly used in economics to refer to a generic good or product involved in an analysis or example.

Good Y

A hypothetical product used in economics to model consumer choice, market interactions, or other economic scenarios alongside another good, typically referred to as Good X.

Consumer

An individual or group who purchases goods or services for personal use and not for manufacture or resale.