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The Economizing Problem

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These Short Essays are partial fulfillment of Paper IE1001 of Part http://college-application-essay-writers300.mystrikingly.com 1 of Certified Islamic Finance Professional (CIFP) [DRAFT V0. 4] INCEIFStudent Name: Mustafa AydemirStudent ID: 1200279 IE1001Assignment in Islamic Economics – Short Essay No 1 by Mustafa Aydemir – Version 0. 4. doc -1- Bismillahirrahmanirrahim The economizing problem – And its direct effect on the economy at large. A short essay from Islamic perspective by Mustafa Aydemir Human beings are greedy by nature and their needs are universally recognized as infinite.A simple prove for this statement is the wish of every person to live forever. The unlimited wants are the main reason that resources are considered insufficient or scarce. This is probably the strongest argument and a good justification to define an entire field of study to explain and solve the resulting economizing problem between unlimited needs versus limited resources. “Economics is the social science that studies the allocation of scarce resources to satisfy unlimited wants� (INCEIF Lecture Notes1), It is divided into Macro- and Microeconomics.