Christian D.

Dado BSA 4-1

1. What is living wage?

- living wage is a type of wage that can sustain your everyday living. Included

in this is are foods, housing, and clothing.

2. Minimum wage is the wage that is the minimum amount that a worker can

get and it is the amount set by the law.

3. Differentiate one from the other.

-Minimum wage is a wage set by the law, it can be a living wage, it depends on

the country you are living in. While living wage is a wage that can sustain your

living, it may be a minimum wage.

4. Define environmental planning according to republic act no. 10587.

-according to republic act no. 10587, Environmental planning, also known as

urban and regional planning, city planning, town and country planning, and/or

human settlements planning, refers to the multi-disciplinary art and science of

analyzing, specifying, clarifying, harmonizing, managing and regulating the

use and development of land and water resources, in relation to their environs,

for the development of sustainable communities and ecosystems. This refers

to proper utilization and usage of environment while considering and

developing natural environment. This provide a framework on how to manage,

develop, analyze and etc.

5. Homo Finitus ethics of minimum wage, why is that some consider minimum

wage is immoral?
-they say that it effects the low wage workers negatively since there are two

moralities, the magnanimous which talks about small group that family

members are familiar and have personal concern for each other. While the

second is the mundane morality is a large group where family members has no

personal concern with each other. Strong emotional appeals of magnanimous

morality creates temptation. It is the exercise of markets’ mundane morality

rather than a minimum wage that provides the only serious hope for low wage

workers to improve their real incomes.

6. Homo Oeconomicus. Explain what does it tell.

- It says that workers are means of production and competition as determining

wages which are in turn, lined to productivity. Market will automatically ensure

that each worker is paid according to their marginal productivity. But it neglects

one of the most important premise of such argument - the employers must be

forced to bid for workers in a competitive market against other employers. If

the minimum wage is below or equal to competitive rate of labor it is okay but if

it is above the competitive rate of labor, it disemploys people. The higher the

minimum wage, the higher the job loss among low skilled workers.