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

The Ultimate Dictionary Awaits

Expand your vocabulary and dive deeper into language with Merriam-Webster Unabridged.

1. Expanded definitions
2. Detailed etymologies
3. Advanced search tools
4. All ad-free

Discover what makes Merriam-Webster Unabridged the essential choice for true word lovers.

Start Your Free Trial Now