Homonym: minimum (Least)
The term "minimum" refers to the smallest amount or lowest level of something that is acceptable or possible. It is often used in various contexts, such as mathematics, where it denotes the least value in a set of numbers, or in everyday situations, like the minimum age required to vote or drive.
In economics, the concept of minimum wage represents the lowest hourly pay that employers can legally offer their workers. This ensures that employees receive a basic standard of living. Understanding minimum values helps individuals and organizations set benchmarks and make informed decisions.