What might be classified as a social cost of a workplace accident?

The correct answer identifies long-term effects on family requiring counseling as a social cost of a workplace accident because it highlights the broader impact that an accident can have beyond the immediate workplace. Social costs refer to the effects that extend into the community and families, including emotional and psychological hardships that family members may face as a consequence of an employee's injury. Such effects could necessitate professional counseling services to help the family cope with the change in their dynamics and the potential long-term ramifications of the accident.

In contrast, immediate medical expenses are typically classified as direct costs rather than social costs because they are directly related to the treatment of the injured employee. Increased business profits do not relate to the social costs of a workplace accident; in fact, they could suggest that the accident has not heavily impacted the business's financial health. Lastly, reduced employee training requirements do not demonstrate a social cost; rather, they may imply a potential negative effect on workplace safety and employee preparedness that could lead to further risks. Thus, long-term effects on families encompass the wider societal implications of workplace accidents and capture the essence of social costs.