There Are Various Types of Alternative Dispute Resolution (ADR)

question 101

Multiple Choice

There are various types of alternative dispute resolution (ADR) . The most common type mentioned below is

• A)mediation.
• B)pleading.
• C)small-claims courts.
• D)private judging.

---

Definitions:

Private Goods

Goods that are excludable and rivalrous in consumption, meaning they can only be used by one person at a time.

Rival Consumption

A situation where the consumption of a good or service by one person reduces its availability for consumption by another person.

Excludable

A characteristic of a good or service that means it can be limited to only paying customers or those who meet certain criteria.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.