standard rate

noun

Definition of standard rate

: a basic or minimum rate established for similar work or occupation within a plant, industry, or community by collective agreement or union rule or by law

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Cite this Entry

“Standard rate.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/standard%20rate. Accessed 12 December 2019.

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