Demand in Islamic market in comparison with highly - competitive market

Rajaee, Mohammad Kazem

Demand in Islamic market in comparison with highly - competitive market

Author

Mohammad Kazem Rajaee

Faculty member Research Institute of Hawzeh and University

Abstract

Values of western culture have combined with economics in different
delicate methods. These values play an important role in theories.
Three principles including: observation of values, efficient allocation
of resources and brotherhood (friendship and understanding between
people) can be concluded from Islamic solutions on demand.
Although economic subjects have the potentials of accepting new
methods but regarding the rules govern the behavior of an
economical Muslim man, a little change can be made in the concepts
related to the literature of capitalist economy to present the
discussion.
The principles of brotherhood, economy and avoidance of
merrymaking (or efficient allocation of resources) make people tend
to use basic necessities where they are limited and not more available,
i.e.; people from different social classes, on low or high income, are
inclined to buy particular goods and commodities.
Stabilizing the conditions, the level below the curve of a Muslim
demand graph is less than a non-Muslim one in regard to the level
below the curve, but the level below the curve on a demand graph in
Islamic market is more in regard to the highly – competitive market. If
prices exceed the purchasing power of consumer in regard to the
basics for living, the Islamic government or people on high income
can pay for, through donations to reach to the utility level. In other
word, the effects of income, in two levels of prices, based on the high
amount of consuming ( waste ) and lowest amount of consuming (
living necessities ).

Keywords