Employers can reduce safety dangers and workers compensation costs by investigating all accidents with an eye toward future deterrence.
Definition of Workers' Compensation
Employees who sustain diseases or injuries at work are given benefits under workers' compensation insurance, a sort of commercial insurance. This insurance specifically aids in covering expenses such as medical care, lost wages from missed work, and more. Benefits from workers' compensation insurance might vary by state.
Three ways that workers' compensation insurance safeguards your company. These include things like providing coverage for employee illnesses and workplace accidents, defending your company in legal proceedings, and maintaining compliance with state laws.
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Answer:
The theory of efficiency wages why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor is due to these reasons:
Paying higher wages enhances workers to adopt healthier lifestyles, enhancing their productivity.
Paying higher wages can reduce a firm's training costs.
Paying higher wages encourages workers to be more productive.
Explanation:
Payment of higher wages increases the efficiency and productivity of the workers.
Also, payment of higher wages gives room for self-motivation among workers. Therefore, much training is not required leading to a reduction in training cost.
The high premium pricing strategy is used.
A premium pricing approach entails pricing a product higher than comparable ones. This method is also known as skim pricing since it attempts to "skim the cream" off the top of the market.
Here the internet provider is providing high speed internet at lowest cost if the two year contract is taken, now the user gets used to that speed and now will not be satisfied with the low speed so he will take the offer even if it is provided at high price.
This strategy of pricing is called premium pricing strategy.
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Answer:
a) Seizing the farms from his political rivals, and giving them to his friends, even when they do not know about farming, will result in less economic growth, because the human capital employed in farming is now of less quality. If things turn sour, a famine could even result (there have been many examples of this kind of situation throughout history).
b) This kind of red-tape will result in less economic growth, because investments that could have been made during the current year, will be postponed at least one year due to the bureaucracy.
c) The government of Tempestia is improving the judiciary, granting it independence and credibility. This will result in more economic growth because now both citizens, and international investors have more confidence in the country, since they feel that their property rights will be enforced, giving them an incentive to invest and take risks.
d) This kind of protectionist policies will likely result in less economic growth because the lack of international trade makes things more expensive for consumers, keeping their incomes from growing, and also because protectionism leads to the misallocation of resources by keeping afloat inefficient economic sectors that under a free trade system would otherwise collapse to give way to more efficient sectors.