Which of the following sets out the legal minimum wages and conditions for employees in a particular industry, and is determined by an industrial court or tribunal? (A) Agreement (B) Award (C) Contract (D) Statute - HSC - SSCE Business Studies - Question 16 - 2001 - Paper 1

In this question, we need to determine which option sets out the legal minimum wages and conditions for employees in a specific industry as defined by an industrial court or tribunal.

Among the options:

• Agreement: Generally refers to a mutual understanding between parties, but not necessarily enforced by a tribunal.
• Contract: A legally binding agreement between parties, yet it may not provide minimum wages and conditions set by a tribunal.
• Statute: These are laws created by legislative bodies, but they do not specifically address industry minimum wages in the context given.

Award refers specifically to a document that sets out the minimum wages and conditions of employment for a specific industry, determined by an industrial court or tribunal. Thus, it is the correct choice for this question.

Therefore, the correct answer is (B) Award.