Regarding setting standards, please provide one labor standard example that exists today, in any country. Do you think it should exist? Why or why not? Use economic terms. Labor standard ensures the...

Regarding setting standards, please provide one labor standard example that exists today, in any country. Do you think it should exist? Why or why not? Use economic terms.

Labor standard ensures the amount of time that employees are supposed to complete the tasks (Bragg). Time maintenance requires the tasks to be done, so that the productivity remains stable. This standard measures the employee’s performance of the company.

An example​ ​of labor standard is​ ​the​ ​Fair Labor​ Standards​ Act​ (FLSA). It determines the​ 40-hour workweek​ and​ establishes​ the​ minimum​ ​wages,​ ​overtime​ ​pay,​ ​and​ ​child​ ​labor​ ​standards​ ​(Wage​ ​and​ ​Hour​ ​Division​). The​ ​article​ ​determines​ ​the​ ​Act’s​ ​measure​ ​regarding​ ​to ​the ​work ​tasks​ performed​​ daily,​​ number​​ of​ hours ​worked,​ ​and​ ​the​ minimum​ wage​ ​the employer​ grants​​ ​the ​employee ​​in​ the ​United ​States. Fair Labor​ Standards​ Act should​ exist because it offers the requirements for employee’s eligibility to maintain the wages. An article uses​ ​the​ economic​ ​term​ ​such as the​ ​credit​ ​of​ ​current​ ​account.​ ​It​ ​is similar to​ ​the​ ​employees​ who ​receive wages​ ​as​ ​of​ ​money​ ​inflow. ​A ​debit​ of​ ​current​ ​account​ ​would occur when ​the department pays ​the wages​ ​as​ ​of​ ​money​ ​outflow. ​Additionally,​ overtime​ pay​ could lead​ employees​ to​ ​pay​ interests​​ to​ lower​ ​the​ ​external​ ​debt.​ ​If they work longer,​ they receive​​ ​over a​ minimum ​wage successfully.​ ​These​ ​minor​ ​examples ​lead​​ to​ ​​the surplus​ ​of​ the​​ bank,​ but ​saving​ ​money ​would​ ​be​ required​​ for​​ ​the​ ​future​ ​bill​ ​payment.