Revision
Quiz
•
Business
•
10th Grade
•
Practice Problem
•
Medium
Zhana Bosco
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the term from your vocabulary list matches the following definition:
A method of resolving disputes whereby an impartial third party decides on a settlement agreement that is then binding on the parties to the dispute
Mediation
Arbitration
Mediation
Conciliation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the term from your vocabulary list matches the following definition:
Similar to mediation except the conciliator can suggest possible solutions
Arbitration
Conciliation
Mediation
Negotiation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the term from your vocabulary list matches the following definition:
When a third party helps those involved in a dispute to negotiate a solution acceptable to both sides
Mediation
Negotiation
Conciliation
Arbitration
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the term from your vocabulary list matches the following definition:
A method of resolving disputes where the parties involved discuss the issues in an attempt to reach a compromise
Arbitration
Mediation
Negotiation
Conciliation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Select the term from your vocabulary list matches the following definition:
Money set aside during your working life for retirement
Entitlements
Employment contract
Superannuation
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6.
CATEGORIZE QUESTION
3 mins • 1 pt
Organise these options into the right categories (3 answers for each category)
Groups:
(a) Arbitration ADVANTAGES
,
(b) Arbitration DISADVANTAGES
,
(c) Conciliation ADVANTAGES
,
(d) Conciliation DISADVANTAGES
Expertise – Arbitrators often have specialised knowledge in the area of dispute.
Expert Guidance – The conciliator offers suggestions and expertise to guide a resolution.
Less Formal – More flexible and less intimidating than court.
Efficiency – Can be faster than court proceedings.
Binding Decision – The outcome is legally enforceable, ensuring compliance.
Non-Binding – The outcome is not legally enforceable unless both parties agree to formalise it.
Less Control – Parties do not negotiate the outcome; the arbitrator decides.
Costly – Can be expensive, similar to court proceedings.
Encourages Cooperation – Helps maintain relationships between parties.
Relies on Willingness – If one party is uncooperative, resolution may not be reached.
May Delay Resolution – If unsuccessful, parties may still need arbitration or court action.
Limited Appeal Rights – The decision is usually final, with little room for appeal.
7.
CATEGORIZE QUESTION
3 mins • 1 pt
Organise these options into the right categories (3 answers for each category)
Groups:
(a) Mediation ADVANTAGES
,
(b) Mediation DISADVANTAGES
,
(c) Negotiation ADVANTAGES
,
(d) Negotiation DISADVANTAGES
Non-Binding – The mediator does not make a decision, so parties may walk away without resolution
Power Imbalances – A stronger party may pressure the other into an unfair agreement.
No Legal Expertise Required – The mediator may not have specialized legal knowledge.
Preserves Relationships – Encourages open communication and compromise.
May Lead to Stalemates – If neither side is willing to compromise, resolution is unlikely.
Cost-Effective – No need for legal fees or third-party mediators.
Fast & Flexible – Can be resolved quickly without formal procedures.
Cost-Effective – Generally cheaper than arbitration or litigation.
Non-Binding – Unless documented, agreements may not be enforceable.
Confidential – Discussions remain private, unlike court cases.
Power Imbalances – One party may dominate the discussion, leading to an unfair outcome.
Confidential – Discussions remain private, avoiding public disputes.
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