What is a minimum wage?

1 Answer
Emily
Jan 7, 2016

A minimum wage is the minimum amount a worker can be paid.

Explanation:

While it differs in every country, the minimum wage is the lowest amount a person can be paid. In the United States, for example, workers can be paid no less than $7.25 per hour, but it can also differ from state to state.

Related questions
See all questions in Hiring decisions in the markets for labor and capital
Impact of this question
2198 views around the world
You can reuse this answer
Creative Commons License