Final answer:
Minimum wage laws set by the ESA ensure the lowest wage that can be legally paid to workers, aiming to prevent poverty and provide a living standard above the poverty line.
Step-by-step explanation:
Minimum wage requirements in the ESA (Employment Standards Act) provide for the lowest wage that an employer can pay to an employee. This is called a price floor and is a measure designed to protect workers from being paid too little; it is not the average wage or the highest wage an employer can pay, and it is not fixed based on tenure. The theory behind this is to establish a wage that helps ensure a reasonable standard of living, although debates often arise whether the current minimum wage meets the necessary threshold to prevent poverty, given the cost of living and other economic factors.