Minimum levels are the lowest acceptable thresholds that amounts and quantities should meet. Maximum levels are the highest levels permitted for variables. For example, there are minimum wage limits for workers set by governments of various states.
The minimum wage bill refers to the lowest hourly, daily, monthly or yearly remuneration that employees are entitled to. Setting a minimum wage bill enhances the living standards of citizens, reduces inequality and helps prevent poverty. An example of a maximum level are speed limits imposed by state governments to keep motorists safe. In the state of Montana, night time speed limits on the interstate are 75 miles per hour, while daytime speed limits are 70 miles per hour.