Fact Pattern 2-3

question 35

Multiple Choice

Fact Pattern 2-3
Java Cafes,Inc. ,and Kaffe Import Corporation dispute a term in their contract.
-Refer to Fact Pattern 2-3.The least expensive method to resolve the dis?pute between Java and Kaffe may be

• A)arbitration because the case will be heard by a mini-jury.
• B)litigation because each party will pay its own legal fees.
• C)mediation because the dispute will be resolved by a non-expert.
• D)negotiation because no third parties are needed.

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Definitions:

Cheaper Elsewhere

A phrase indicating that an item or service can be purchased at a lower cost in a different location or market.

U.S.-produced Goods

Products that are manufactured, created, or assembled within the United States.

Production Possibilities Frontier

A graph that shows the combinations of two goods or services that an economy can produce, given its technological capabilities and resources.

Adaptable Resources

Resources that can be adjusted or converted to meet changing conditions or requirements within an economy or market.