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Final answer:
Arbitration is utilized in labor disputes to reach a binding decision agreed upon by both parties.
Explanation:
Arbitration is commonly used in labor disputes. It involves a neutral third party making a decision that both parties are bound to follow. Unlike mediation, where the mediator assists the parties in reaching a voluntary agreement, in arbitration the arbitrator imposes a decision.
Learn more about Negotiation, Mediation, Arbitration here:
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