A minimum wage is the: Multiple Choice lowest wage that a firm is legally allowed to pay its workers. highest wage that a firm is legally obligated to pay its non-skilled labor. prevailing wage for low-income workers in a nation. wage every high school dropout will earn if they are employed.

Question

Business

Roach

13 February, 07:10

A minimum wage is the: Multiple Choice lowest wage that a firm is legally allowed to pay its workers. highest wage that a firm is legally obligated to pay its non-skilled labor. prevailing wage for low-income workers in a nation. wage every high school dropout will earn if they are employed.

+4

Answers (1)

Know the Answer?

Ian Norris · Answer 1

lowest wage that a firm is legally allowed to pay its workers

Explanation:

he minimum wage is the lowest compensation that employers are required to pay workers for labor services provided. It is the lowest amount that workers should be paid per hour as set by the law. The concept of the minimum wage was introduced to increase the incomes and, consequently, the living standards of unskilled workers.

The minimum wage protects workers from exploitation through low pay. It ensures workers receive a just remuneration for labor services. Different countries set varying minimum wage rates. It is illegal to pay workers below the minimum wage rate apart for the exempted groups.