A more thorough explanation:

Term: FLSA

Definition: FLSA stands for Fair Labor Standards Act. It is a federal law that sets minimum wage, overtime pay, and other labor standards for workers in the United States.

Example: The FLSA requires that covered employees be paid at least $7.25 per hour, which is the federal minimum wage. It also requires that covered employees be paid overtime at a rate of one and a half times their regular rate of pay for any hours worked over 40 in a workweek.

Explanation: The example illustrates how the FLSA sets minimum wage and overtime pay standards for workers. The law ensures that employees are paid fairly for their work and helps prevent employers from taking advantage of their workers by paying them less than what they deserve.