One common arbitration scheme is the simple priority arbiter. Each requester is assigned a fixed priority, and the grant is given to the active requester with the highest priority. For example, if the request vector into the arbiter is req[N-1:0], req[0] is typically declared the highest priority. If req[0] is active, it gets the grant. If not, and req[1] is active, grant[1] is asserted, and so on. Simple priority arbiters are very common when choosing between just a few requesters.

Arbiter FIFO-second option.vsd
Arbiter Fixed.vsd
Arbiter RR.vsd

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