Why does minimum wage exist?

Answers

Answer 1

Answer:

The minimum wage exists to establish a floor on the wages that employers can legally pay to workers.

Its primary purpose is to protect vulnerable workers from exploitation and ensure they receive a fair and decent level of compensation for their labor. By setting a minimum wage, governments aim to prevent excessive wage suppression, reduce poverty, and promote social and economic justice.

Minimum wage laws seek to provide workers with a basic standard of living, protect against income inequality, and stimulate consumer spending. It serves as a tool to address income disparities, improve working conditions, and contribute to overall social welfare and economic stability.

Learn more about minimum wage here:

brainly.com/question/33874535

#SPJ6

Answer 2

Answer: If minimum wage didn't exist, then there would be nothing stopping companies from paying there workers basically nothing. They could grossly underpay all workers and not get in trouble for it.

Related Questions

The change in retained earnings is affected by which of the following? Select one:_________ a. Payment of dividends and common stock. b. Net income and common stock. c. Net income and payment of dividends. d. Net income and paid-in capital.
Because of large reserves that center around the Persian Gulf, the Middle East often produces as much as two-thirds of the world’s supply of __________.A. water B. cattle C. coal D. petroleum
"A storm damaged Mr. Smith’s roof, allowing rainwater to leak into the house. Mold began to grow. It cost $5200 to repair the roof and $2500 to clean up the mold. Mr. Smith’s policy has a $500 deductible, and it excludes mold damage. How much did the insurance company pay Mr. Smith?"
Madson Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?a.Prepaid Subscriptions................600,000..................Cash...................................600,000b.Subscriptions Receivable..........600,000................Subscription Revenue.............600,000c.Cash...........................600,000............Unearned Subscription Revenue.....600,000d.Subscriptions Receivable.............100,000.............Unearned Subscription Revenue....100,000
Which of the following actions would improve your credit score

In which of the following situations would the price of a good be most likely to increase?An increase in production costs results from a rise in wages.
A rise in demand happens too quickly for producers to increase production to keep up.
A breakthrough in productive technology enables a company to increase its output.
There's a sudden increase in the number of companies competing to sell the good.
i think b

Answers

I believe the correct answer from the choices listed above is the second option. The price of a good be most likely to increase when a rise in demand happens too quickly for producers to increase production to keep up. Hope this answers the question. Have a nice day.

How is a line of credit similar to a credit card

Answers

Line of Credit is somehow the same to a credit card.
Line of credit is a credit given by a certain company to you to use in a particular goods or services. For example in the casino, a company will give you a line of credits to use for casino only. Unlike credit card which can be used anywhere as form of payment.

Positive qualities and character traits that determine how you act and perform your job refer to A. professionalism.
B. approachability.
C. ethical behavior.
D. skills.

Answers

Based on my opinion, the best answer would be B.
I may not be correct but...
I hope this helps:)

Advise Florence and her team on how they can convince the staff using john kotter's theory to lead change

Answers

John Kotter's Theory is composed of an 8-step change model. Follow these steps for implement change powerfully and successfully.

1) Create Urgency - identify potential threats and develop scenarios ; examine opportunities

2) Form a Powerful Coalition - convince people that change is necessary.
3) Create a Vision for Change
4) Communicate the Vision
5) Remove Obstacles
6) Create Short-term wins
7) Build on the Change
8) Anchor the Changes in Corporate Culture

The primary purpose of Grameen Bank is to __________.a. provide loans to aid in building infrastructure in the world’s poorest countries
b. provide installment loans to countries in economic crisis
c. provide debt relief for poverty-stricken countries
d. provide microcredit loans, especially to women
An important function of __________ is to develop programs for rebuilding a nation’s economy.
a. the International Monetary Fund (IMF)
b. the World Bank
c. Grameen Bank
d. civil society ...

Answers

The primary purpose of Grameen Bank is to provide microcredit loans, especially to women. Thus, option (d) is correct.

An important function of the International Monetary Fund (IMF) is to develop programs for rebuilding a nation’s economy. Thus, option (a) is correct.

What is economy?

The mechanism through which a nation or region organizes its money, industry, and trade is concerned to as its “economy.” The economy is the significant part of the country. The primary sector of the economy is the industrial sector and agriculture sector.

Grameen Bank, was the main focuses on the provided the loan. I was the lower interest rate. It was specially a target audience is the women. International MonetaryFund was the involved of the 189 member countries. It was the main agenda to develop the rebuilding of a nation’s economy.

As a result, the significance of the International MonetaryFund and the Grameen Bank are the aforementioned. Therefore, option 1. (d) and 2. (a) are correct.

Learn more about on economy, here:

brainly.com/question/951950

#SPJ7

Hey there

The correct answer for the first question is (D)

(D) = provide microcredit loans, especially to women

The primary purpose of Grameen Bank is to provide microcredit loans, especially to women .

≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡≡

The correct answer for question two is (A)

(A) = the International Monetary Fund (IMF)

An important function of the International Monetary Fund (IMF) is to develop programs for rebuilding a nation’s economy.

According to _____, an employee may not be fired because he or she refuses to commit an illegal act, such as perjury or price fixing. lifestyle discriminate social learning theory public policy exception retaliatory discharge

Answers

The right answer for the question that is being asked and shown above is that: discriminate social learning theory." According to discriminate social learning theory, employee may not be fired because he or she refuses to commit an illegal act, such as perjury or price fixing.

Here are the choices:
lifestylediscriminate social learning theory
public policy
exception retaliatory discharge

Other Questions

Why are closing costs a one time fee?a. Payment of closing costs is required because it is a sign to the lending institution that the investor has every intention of making payments on time. b. If closing costs were paid over time, they would most likely be forgotten and never paid off. c. Most home buyers pay for their houses in full, and consequently pay for the closing costs in full as well. d. The closing costs cover titles, taxes, and realtor costs. After closing, the only monetary obligation is to the lending party.

If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for?

Which of the following is a “DO” regarding scannable resumes

The government predicts that ___________ of all jobs will require at least some college by 2018.Choose one answer.a. two-thirds b. one- half c. three- tenths d. all of jobs