Why is bargaining required?

Question

Quizplus · Accepted Answer

Bargaining is required when the parties have a conflict of interest on issues that jointly affect them. It is a negotiation process where the parties involved try to come to an agreement to resolve the conflict and reach a mutually satisfactory outcome. Trade-offs are often involved in the bargaining process as both parties try to find common ground and make concessions to achieve a resolution. Bargaining is not a strict legal requirement but is often used in informal and formal contexts such as business negotiations, labor disputes, and legal settlements.

Why Is Bargaining Required