What Is the Primary Purpose of the WCB Experience Rating

question 24

Multiple Choice

What is the primary purpose of the WCB experience rating system?

• A)to help workers identify safe versus unsafe workplaces
• B)to penalize unsafe workplaces through higher premiums
• C)to motivate employers to take a proactive approach to OH&S
• D)to provide data to the Ministry of Labour for follow-up inspections

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Definitions:

Prices Constant

A scenario in which the prices of goods and services remain unchanged over a period of time.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget at specified prices.

Price of Clothing

The monetary value assigned to garments and textiles, determined by various factors including production costs, brand, and market demand.

Price of Food

The cost assigned to food products, which can vary based on factors such as region, availability, and demand.