The following key concepts under the philosophy of production in Islamic economics are true EXCEPT, producers should be wise and abide by Shari’ah rules in using resources in the production process. production process is part of the collective responsibilities of humankind as the Khalifah of Allah on earth. resources are entrusted as amanah and should be managed according to th
The following key concepts under the philosophy of production in Islamic economics are true EXCEPT, producers should be wise and abide by Shari’ah rules in using resources in the production process. production process is part of the collective responsibilities of humankind as the Khalifah of Allah on earth. resources are entrusted as amanah and should be managed according to th
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 4SQ
Related questions
Question
The following key concepts under the philosophy of production in Islamic economics are true EXCEPT,
producers should be wise and abide by Shari’ah rules in using resources in the production process.
production process is part of the collective responsibilities of humankind as the Khalifah of Allah on earth.
resources are entrusted as amanah and should be managed according to the ways and means determined by Allah.
producers should produce something that maximizing their profit as the resources are owned by them.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co