Islam

Categories and agents of production, land, labor, uppercase, entrepreneurship. estate: - All the free gifts of nature atomic number 18 called land. carry on is the only original factor of production. knowledge domain is fixed; Land does not increase but decreases for a variety of reasons. at that place is no supply price of land. Land is capable to the police force of diminishing returns. Labor: - Labor content effort. Effort whitethorn be mental or physical. So labors may be physical labor and mental labor. once again labor may be productive labor and demonstration labor. Labor which produces goods on services is productive and labor which does not produce anythings is unproductive. Capital: - Capital is the produce authority of production. Anythings which promotes advertise production is called capital. Building, machineries, tools of factors are capital. Entrepreneurship: - Entrepreneurship is that factors which combines land, labor and capital in suita ble, simile and starts production. The decisions like what to produce, how to produce, where to produce, are all taken by the entrepreneurship; shekels and loss also goes to the entrepreneurship. Principles of reward of factor of production in Islam or Muslim Economics. These are 1. justness 2. Security 3. almsgiving. Justice: - In effect, justice as a principal in universal in the world of Islam.

The basic purpose of bring out the Quran is to establish justice in the society. The Quran says We despatch our messenger with the book and the parallelism so that mankind many another(prenominal) establish justice. (Sura Hadid) Security: - It convey that men has unlimited textile wants and but re! sources to satisfy these wants are scarce. But some Islamic economists 1 of the view that, the stinting problem is not one of sanity in negation to unavoidably but is caused by valet de chambre legion and neglect in the extraction of the fall benefits of Allahs gifts in terms of both human and natural resources. Humanity: - This principle is particularly negated to the determine of labor....If you want to get a full essay, order it on our website: OrderEssay.net

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