Because There Are Sometimes No Substitutes for Traded Goods, This

question 23

Multiple Choice

Because there are sometimes no substitutes for traded goods, this will:

• A)reduce the probability that PPP will hold.
• B)increase the probability that PPP will hold.
• C)increase the probability the IFE will hold.
• D)B and C

Identify the difference between mandatory and permissive bargaining items.

Comprehend the concepts of distributive and integrative bargaining.

Learn about good faith bargaining and identify examples of bad faith bargaining.

Understand the role of BATNA (Best Alternative To a Negotiated Agreement) in negotiations.

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Definitions:

Social Ordering

A concept in sociology that refers to the systematic organization of individuals in a society based on various criteria such as economic status, power, ethnicity, or age.

Complete

Refers to a state where all necessary parts are present or when a process has been finished entirely, leaving nothing omitted.

Reflexive

A property of binary relations where every element is related to itself; often discussed in mathematics and logic.

Transitive

A property in logic and mathematics where if relation A relates to B and B relates to C, then A must relate to C.