Definition, Meaning & Synonyms
minimum-charge
noun
/ˈmɪnɪməm tʃɑːrdʒ/
Definition
The least amount of payment required for a service or product.
Examples
- Many restaurants have a minimum-charge for reservations, ensuring that customers commit to a certain spending amount.
- Online services sometimes implement a minimum-charge for subscriptions to make up for maintenance costs.
- The taxi company has a minimum-charge policy regardless of the distance traveled.
Meaning
A minimum-charge refers to a baseline price that must be paid, regardless of the extent of the service or product used. This ensures that a business covers its basic costs when providing services.
Synonyms
- base charge
- starting fee
- minimum fee
