Final answer:
A compromise is an outcome of a disagreement where all parties involved give ground on their positions to reach a mutually satisfactory agreement.
Step-by-step explanation:
An outcome to a disagreement in which both parties walk away feeling that they got what they wanted or needed is known as a compromise. In a compromise situation, participants often have to give ground on their positions to arrive at a mutually acceptable agreement.
For instance, when addressing environmental policy, such as reducing greenhouse gas emissions, countries may agree on the overall goal but differ on the specifics, leading them to compromise and settle on a reduction percentage that falls between their individual proposals.
Compromise is usually the result when no single party has the power to unilaterally set terms, and a decision must be reached that satisfies all parties to an extent, often articulated as 'getting half a loaf is better than none'. In the context of political bargaining or collective decision-making, compromise often represents a middle ground where gains and concessions are balanced to achieve a resolution that is acceptable to all involved.