Definition: In the commodities market, fair trade price is the minimum price that importers must pay to the producers of some agricultural products such as coffee and banana. It is the floor price ...

Erik McGregor/Pacific Press—LightRocket via Getty Images A minimum wage is the lowest wage that a worker may be paid per hour. It's a price floor on hourly wages mandated by federal law.

Definition: Tick size is the minimum price change between different bid and offer prices of an asset traded on an exchange platform. It is the minimum price difference that must exist at all times ...