The _____ Was Passed in 1970 to Ensure Safe and Healthful

question 41

Short Answer

The _____ was passed in 1970 to ensure safe and healthful working conditions for working men and women by setting and enforcing standards and by providing training, outreach, education and assistance.

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Definitions:

Majority Rule

A decision-making process where the choice supported by more than half of the participants becomes the decision, commonly used in democratic systems.

Voting System

A method for a group to select one or more options or candidates from a larger pool, often used in elections.

Asymmetric Information

A situation where one party in a transaction has more or better information than the other, leading to an imbalance in power and potentially unfair outcomes.

Hidden Action

A situation in which an agent's actions are not fully observable by the principal, potentially leading to moral hazard.