Related to the Economics in Practice on Page 393: in the Kerala

question 11

Multiple Choice

Related to the Economics in Practice on page 393: In the Kerala region of India, fishermen used cell phones to help connect buyers and sellers, reducing waste. All of the following describe ways in which technology is likely to improve information flow and increase economic efficiency except:

• A) Fax technology makes it possible to transmit signed contracts in seconds, allowing the parties to the contract to begin performing their contract duties more quickly.
• B) High-speed Internet connections allow engineers in developing countries to collaborate with firms all around the world.
• C) E-mail now makes criminals who commit certain kinds of fraud very difficult to identify and arrest.
• D) Video conferencing decreases the need for expensive business travel.

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Definitions:

Mutually Satisfying Resolution

A solution to a conflict or problem that all parties involved agree upon and benefit from.

Conciliator

An individual who facilitates the settlement of disputes by encouraging parties to reach an amicable agreement.

Arbitrator

An independent person or body officially appointed to settle a dispute.

Litigation Process

The series of actions taken to pursue a legal case in court, from filing the initial complaint to the final judgment.