Assignment-1
Principles of Islamic economics
Duration: 4 days
- State the definition and characteristics of a Perfect competitive market. Explain the views of Islamic economics about Perfect competitive market. Use relevant graphs.
- Why is perfect competition better than imperfect competition?
- Define monopoly. Explain the attitude of Islam towards monopoly and distinguish between an Islamic monopolist and conventional monopolist.
- Critically explain the price-quantity relationship in a monopoly under conventional and Islamic economics. Use relevant graphs.
- What is price discrimination or price differentiation? Is it permissible in Islam? If yes or not; why or why not? Give two practical examples of price differentiation that a state can apply. Use relevant graph.
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What is advertising? Is it permissible in Islam? What are the basic principles of advertising in Islam? Illustrate the advertising behavior of an Islamic and non-Islamic firm diagrammatically.Instructions:
Please be precise in your answerFollow the assigned book and any other book if relevant.Please submit the name of all group members with answer sheetPlease submit the Assignment within the due time (4 days)Please do not copy your answer from others; it will certainly damage your brain.
Friday, February 24, 2012
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