Fair Labour Standards Act, Fair Market Value, Fair Rate of Return, Fair Trade




Fair Labour Standards Act, Fair Market Value, Fair Rate of Return, Fair Trade :




Fair Labour Standards Act : Labour Relations Legislation originally passed in 1938 and governed by the Wage and Hour Division of the Department of Labour that set basic principles for minimum wages, overtime pay and the employment of those who are minor. Clauses that disallow wage disparity based strictly on sex are imposed by the Equal Employment Opportunity Commission.



Fair Market Value : The prevailing price at which the goods can be sold in the market



Fair Rate of Return : Profit level at which a public domination such as a utility company is permitted to function as determined by government supervisory body. A satisfactory ratio of earnings to investment that is the basis on which the management of a company may analyse the importance of a development or other investment prospect.



Fair Trade : An agreement according to which a retailer agrees not to sell below the standard price that is fixed by the manufacturer for certain branded items




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