When an Authority Listens to Both Sides of a Dispute,questions

question 3

Multiple Choice

When an authority listens to both sides of a dispute,questions the parties to the conflict,and then renders a judgment that both parties have agreed ahead of time to accept,which of the following intervention strategies is in play?

• A) adjudication
• B) arbitration
• C) facilitation
• D) mediation
• E) conciliation

---

Definitions:

Allocation of Resources

The process by which resources are distributed for the production of goods and services within an economy.

Market Equilibrium

A state in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price for the goods or services.

Production and Consumption

The processes of creating goods and services (production) and using them to satisfy needs and desires (consumption).

Holiday Lighting

The practice of installing lights and other decorative lighting during holidays; not inherently economic but can involve significant expenditure and economic activity.