Final answer:
The term 'mediation' refers to the process in which a neutral third-party assists in negotiating a settlement between two parties. It is distinct from arbitration and adjudication, where a third-party decision-maker imposes a resolution, and conciliation, which may involve advisory roles in proposing settlement terms. In politics, bargaining and compromise are integral to resolving disputes and achieving mutually acceptable outcomes.
Step-by-step explanation:
The term that is described as trying to negotiate a settlement between two parties is mediation. Mediation is a voluntary process where a neutral third-party, known as a mediator, helps the disputing parties to communicate and reach a mutually acceptable agreement. Unlike arbitration or adjudication, where a third party provides a decision that resolves the dispute, mediation involves the parties themselves developing a resolution with the assistance of the mediator. Conciliation is a related concept, but it typically involves a conciliator who may have an advisory role in proposing terms of settlement, more so than directly facilitating the dialogue between the parties.
Resolving political conflicts often involves bargaining to determine whether the status quo or existing rules and realities will change. In the realm of international politics, for instance, bargaining can lead to outcomes like compromise on policy issues such as greenhouse gas emissions, where countries may agree to reduce emissions by a certain percentage that is agreeable to all parties involved. In this way, compromise through bargaining is essential in politics, as every party aims for a solution that benefits their own interests. Effective dispute resolution systems ensure that justice is delivered in a timely manner by competent and impartial decision-makers, reflecting the principles of accessible and impartial dispute resolution.