1.  Respond to two students. Initial Question: There is much discussion about the minimum wage and 'livable' wage. Discuss your view of this topic in the context of ethics and justice and fairness. Be sure to support your position with reference to principles, concepts, and theory. Please respond to two students. Respond to the two students separately Student 1: For starters, I think fast-food workers should be getting higher wages. I thought it was ridiculous that In-N-Out pays a starting rate of $11 plus benefits while McDonald’s workers make an average of $8.25 an hour before taxes and with hardly any benefits. I think since the food fast industry makes up a large share of America’s low-wage workers need to be making more money. Ethically speaking making $8.25 an hour isn’t giving your workers a healthy lifestyle and also for Mcdonald’s to make the assumption that their workers should be working two jobs. These corporations need to think about their employees and provide them with a living wage. I read that “New York recently mandated a $15 minimum for fast-food workers in New York City by 2018 and for the rest of the state by 2021. Similar actions are under consideration in other states” (Pollin). I think we have seen that leaving the decisions to these big corporations isn’t working and they are not thinking with ethics. Hopefully states around the world and understand the principle of a living wage. In the article, I read they discussed how businesses can adapt without cutbacks. They talk raises the price of fast food by three percent per year. “Using available research, we estimate that such price increases would simultaneously reduce consumer demand by about 1.5 percent overall. But fast-food stores would still gain additional revenues to help offset higher wage costs” (Pollin). Student 2: My belief is that as a right, an employee willingly agreeing to a full time position, within a well established industry, should be able to adequately live off their paycheck. John Rawls's principle of distributive justice is " each person has an equal right to the most extensive basic liberties compatible with similar liberties for all social and economic inequalities are arrange so that they are both a.) to the greatest of the least-advantaged person, and b.) attached to offices and positions open to all under conditions of fair equality of opportunity". I've read part "a" numerous times. It makes me wonder if Rawls is talking about making sure everyone receives an equal outcome no matter what. Maybe he is saying that the least-advantaged person just needs to have the opportunities of basic liberties, such as livable pay for example. I was just considering the thought that livable pay can be skewed. Each person lives different. I live in a house with my girlfriend, where there could be family of three or four people living in an apartment. Apartments cost more and taking care of the lives of four people cost more. So would the livable pay .

1. 1.
Respond to two students.
Initial Question: There is much discussion about the minimum
wage and 'livable' wage. Discuss your view of this topic in the
context of ethics and justice and fairness. Be sure to support
your position with reference to principles, concepts, and theory.
Please respond to two students. Respond to the two students
separately
Student 1:
For starters, I think fast-food workers should be getting higher
wages. I thought it was ridiculous that In-N-Out pays a starting
rate of $11 plus benefits while McDonald’s workers make an
average of $8.25 an hour before taxes and with hardly any
benefits. I think since the food fast industry makes up a large
share of America’s low-wage workers need to be making more
money. Ethically speaking making $8.25 an hour isn’t giving
your workers a healthy lifestyle and also for Mcdonald’s to
make the assumption that their workers should be working two
jobs. These corporations need to think about their employees
and provide them with a living wage. I read that “New York
recently mandated a $15 minimum for fast-food workers in New
York City by 2018 and for the rest of the state by 2021. Similar
actions are under consideration in other states” (Pollin). I think
we have seen that leaving the decisions to these big
corporations isn’t working and they are not thinking with ethics.
Hopefully states around the world and understand the principle
of a living wage. In the article, I read they discussed how
businesses can adapt without cutbacks. They talk raises the
price of fast food by three percent per year. “Using available
research, we estimate that such price increases would

2. simultaneously reduce consumer demand by about 1.5 percent
overall. But fast-food stores would still gain additional
revenues to help offset higher wage costs” (Pollin).
Student 2:
My belief is that as a right, an employee willingly agreeing to a
full time position, within a well established industry, should be
able to adequately live off their paycheck. John Rawls's
principle of distributive justice is " each person has an equal
right to the most extensive basic liberties compatible with
similar liberties for all social and economic inequalities are
arrange so that they are both a.) to the greatest of the least-
advantaged person, and b.) attached to offices and positions
open to all under conditions of fair equality of opportunity".
I've read part "a" numerous times. It makes me wonder if Rawls
is talking about making sure everyone receives an equal
outcome no matter what. Maybe he is saying that the least-
advantaged person just needs to have the opportunities of basic
liberties, such as livable pay for example.
I was just considering the thought that livable pay can be
skewed. Each person lives different. I live in a house with my
girlfriend, where there could be family of three or four people
living in an apartment. Apartments cost more and taking care of
the lives of four people cost more. So would the livable pay be
the number needed for the family of four in the apartment or for
my situation? I would either be getting a decent raise or that
family would receive a pay cut, if we are both living off of
minimum wage. It's interesting to look at the two different sides
of the situation, even though livable pay would most likely be
decided on averages.
To summarize, I do believe in fair pay. I don't believe it to be
morally right for someone to work 40 hours a week and still not
be able to get by.

3. 2.
Please respond to two students
Question: Describe how wealth is built over time. How do your
personal cash flow statement and your personal balance sheet
assist in this process?
Please respond to two students. respond to each student
separately
Student 1:
Wealth is built over time by having a continuous stable income
and with that income investing in assets or reducing debt. When
you reduce debts and increase investment you build a greater
net worth. Net worth = value of total assets (investments,
savings etc.) - Value of total liabilities (debt) If you are able to
make the value of your assets greater than the value of your
liabilities you have a positive net worth by continuing to
increase investing and not accruing more debt you build wealth.
By using a cash flow statement in your quest to build wealth
you are able to look at how your income and expenses correlate
and see where you can make cuts financially in order to either
invest and save more money or pay off the liabilities that you
have. If you see a trend in your spending that you could cut in
order to save more money or use that money to pay debts it is a
perfect took to use the cash flow statement to build wealth. You
would use a personal balance sheet to determine if you are
building wealth looking at your gains or loses quarter to
quarter.
Student 2:
Wealth is built overtime when you maximize your cash inflows

4. (money you earn) and minimize your cash outflows (money your
spend).
It is also important to define what is a need vs. a want. You
need to know what you can afford with your current financial
situation and move away from reactionary purchases that cause
immediate satisfaction vs. investing in a financial future that
increases your net worth with time.
A personal cash flow statement allows you to measure the
money you earn and the money you spend. This will determine
if you are spending within or out of your means. The personal
balance sheet is a tally of your assets and liabilities that at the
end will provide you with your net worth. These tools put your
spending and saving into perspective. It helps you see how and
where you are allocating your money and puts you in control of
allocating money differently to help build your net worth
(wealth).
Wealth is built by decreasing your liabilities (debt) and
increasing your net-worth. If you have an income (does not have
to be a significant income) and live within your means with no
debt and live a "simple" life you can invest your money that
will in-turn increase your net worth.
These statements and balance sheets must be reevaluated
periodically when assets or liabilities change.
3.
Respond to two students.
Question: Crocs, Inc. was founded in 2002 and achieved success
by creating a unique type of shoe made out of foam and offered
in a variety of colors. Although the shoe design was often
perceived as ugly, it attracted customers because of its unique

5. nature and comfortable qualities. However, after early success,
Croc began experiencing dwindling sales because it only offered
one type of shoe. Crocs began to expand into other product lines
such as fashionable flats, wedges, sneakers, and other products
that offered the same comfort level. Yet sales continued to
dwindle. In 2015 the toddler son of Prince William and Kate
Middleton was seen sporting crocs, causing a large spike in
sales. New leadership at the firm will attempt to increase the
hype behind crocs once more.
Describe the target market for Crocs. How does Crocs create
value for target market consumers?
With regards to Crocs, examine the marketing mix elements.
Discuss the product, distribution, price, and promotion for the
shoe industry. How did each element contribute to the initial
success of Croc shoes?
Please respond to two students
Student 1:
The Target Market:
The target market for Crocs is towards individuals who value
comfort and unique colors and designs. Crocs are designed for
many ages, sizes, and preferences. However, I feel that they
mostly target teenagers as they're a fun but comfortable shoe
that is easy to wear to school, sporting events or just hanging
out with friends. As sales have dropped, they have continued to
release new products that may fit new styles such as the flats,
wedges, sandals and sneakers. I believe that Crocs create value
for target consumers by prioritizing comfort and a wide range or
options over looks. Crocs has also made charms that you can
use to personalize your shoe.

6. Product-
"deals with researching the customers' needs and wants and
designing a product that satisfies them". Crocs hit the nail on
the head by meeting the needs and wants of customers. It is a
very comy, versatile product with many options for many
different customers.
Distribution-
Although Crocs had early success, their numbers started to
dwindle. They then started making new product designs and
colors to reach other categories of consumers. Such as creating
a sneaker that is more comfortable and reliable for health care
workers. Social media and online shopping has helped Crocs
distribution expand greatly as it has for many other companies
as it allows their product to reach more people and allow them
to order from the comfort of their own home.
Price-
When Crocs first came out in 2002, the average cost was $26.
The shoe was not designed for upper class people but rather
workers who valued some comfort without caring much about
the style. After Prince Williams son was seen wearing the Crocs
and their sales spiked, the average cost went to about $45 for
their original design. Now more and more people are seen
wearing the shoes, even upper class citizens.
Promotion-
Crocs biggest promotional platform used to be television
commercials, when their product first came out. Now, like many
other companies, do their promoting through celebrities and
social media. You can see multiple ads on just about every
social media platform every day as well as seeing celebrities
wearing them in their posts online.
Student 2:

7. The target market for Crocs includes people from all ages and
all genders. The Crocs shoe design is meant to be more
comfortable than stylish, although they do have many different
colors or images printed on them. Crocs even has little “Jibbitz
Charms” that can be placed in the front holes of the shoe to add
customization to any pair. The design could also be seen as
versatile, because the back strap can be moved to the front of
the shoe and worn as more of a sandal. Crocs has a huge target
market because it is a very easy shoe to put on, which is great
for young children or older folks. The material that Crocs are
made out of is great for wearing to the beach because they can
be easily washed. All of these useful purposes for wearing
Crocs has created value for their products. I know that when I
was in high school I had a pair, and I loved them.
Product
- Crocs has definitely done their research on their target market
and designed a shoe that satisfies people’s needs and wants.
This company has worked to create more than just the original
Croc design, and even produces clogs, sneakers, boots, and
more.
Distribution
- I occasionally see Crocs in stores, but most of their
distribution must take place through sales on the Internet. The
Internet makes it easier for the customer to choose a style and
color, while comparing prices of different shoes and using
coupon codes.
Promotion
- Crocs initially promoted their products through the concept
that they are comfortable, but now they have promoted their
products through the expansion of products. They began with
only the classic clogs and expanded their company by designing
boots, sneakers, loafers, flats, flip-flops, and platform shoes.

8. Crocs promoted their products by creating a variety of products
rather than selling only one version.
Price
- Crocs were inexpensive in the early 2000s, which most likely
generated many sales for the company. The price of Crocs has
most definitely increased, because back in the early 2000s I
would not have purchased a pair for $55. Now that customers
see Crocs as “fashionable and trendy,” I’m sure many customers
would drop that money instantly for a pair of Crocs.