Definition, Meaning & Synonyms
flat-rate
Adjective
/flat reɪt/
Definition
A pricing structure that charges a single fixed fee for a service, regardless of the quantity of usage or the time expended.
Examples
- Many phone companies offer flat-rate plans for unlimited calls.
- The flat-rate shipping fee made online shopping more convenient.
- Our subscription service provides a flat-rate monthly cost for all features.
Meaning
Flat-rate refers to a system where a set price is established for a service or product, eliminating variable costs based on consumption or duration.
Synonyms
- Fixed-rate
- Set-price
- Standard charge
