minimum rate

noun

1
: an insurance rate applied uniformly to all risks within a given group or class regardless of possible differences in hazards
2
: the lowest permissible rate at which traffic may be handled by a carrier
3
: the lowest wage rate assigned for a given task or to a given class of employees compare minimum wage

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Dictionary Entries Near minimum rate

Cite this Entry

“Minimum rate.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/minimum%20rate. Accessed 11 Dec. 2024.

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