Which of the Following Does the Country of Fuggedaboutit Not

question 70

Multiple Choice

Which of the following does the country of Fuggedaboutit not have to be concerned about?

• A)choosing a system of resource ownership
• B)allocating resources
• C)earning a profit for its owners
• D)providing individual incentives
• E)answering the three economic questions

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Definitions:

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties reach a voluntary, negotiated agreement.

Negotiation

The process of discussing terms between parties to reach a mutual agreement or resolve differences.

Arbitration

A method of dispute resolution where an impartial third party, called an arbitrator, makes a decision to resolve a dispute outside of court.

Private Civil Trial

Trials run according to the same rules of procedure and evidence as trials run under the official auspices of the court. In a private trial, the parties can hold the trial when and where they choose, and they can choose the judge. Lengthy civil cases are well-suited to this approach.