Demand Theory in Islam

The important thing to note is how the economic theory developed by the West limits its analysis in a short number, that is, only to the extent how humans fulfill their desires.. No analysis includes moral and social values. The analysis is only limited to market variables such as price, income and so on. Other variables were not included, such as moral value variables such as simplicity, justice, the attitude of putting others first, etc. Here we will discuss how Islam regulates consumption and how this affects the law of demand that we have studied above.

In Islamic economics, every economic decision of a human being is inseparable from moral and religious values ​​because every activity is always connected to the sharia. AlQuran calls economy . with the term iqtishéd (savings, the economy), which is literally; means' mid’ or 'moderate'. A Muslim is prohibited from doing extravagant (see al-Israa verse 26-27). A Muslim is asked to take a moderate attitude in acquiring and using resources. He can not isréf (royal, exaggerated), but also stingy is forbidden (bukhl)

The Islamic Consumption Paradigm

The Qur’an and Hadith teach, in relation to consumer behavior, among others:

a. Islam recognizes that the skills and abilities of each individual are different. Hence it is unfair and unreasonable to have absolute equality between all members of society in terms of income, consumption and so on. But at another extreme point, where inequality can be particularly pronounced based on differences in ability, chance, and the persistence of everyone is not in accordance with the spirit of Islam, although this is considered the fairest in a limited human point of view. In fact, Islam views differences in capacity in society as a social framework to build an internal mechanism that is respectful and full of compassion. It is taught in Islam that "the upper hand is more noble than the lower dj", that is, the party that gives help gets a higher position than the party that is helped. The above teaching can also be interpreted that the person whose life is fast can be held in a noble position in Islam if he helps people a lot..

b. Islam obligates zakat, namely removing a small portion of the assets that have passed a certain nisab limit in terms of the amount and time of control of the said assets. Zakat is an obligation for Muslims who are able or rich. If zakat is obligatory, then being able or rich is obligatory, in order to carry out the obligation to give zakat. As the law of purification is mandatory because purification is a requirement for prayer services which are also obligatory and cannot be performed without these conditions. So, if the zakat obligation cannot be fulfilled before the conditions are met, then the condition ‘able’ it becomes obligatory to fulfill it.

The Islamic rules regarding how to carry out consumption activities are as follows:

a. Do not overdo it

Allah SWT. spoke in QS. al-An’aam ayat 141: “ and do not exaggerate. Indeed, Allah does not like people who are extravagant. ". If human beings are forbidden to overdo it, that means humans should consume only what is necessary. The practice of the above verse also means the attitude of fighting waste, pretentiousness, consuming unnecessary items. In economic language, Islamic consumption behavior which is not excessive means that Islamic demand patterns are driven more by the need factor (needs) of desire (wants).

Back to the example of consumption of the MQ Cola drink above, if we consider that buying MQ Cola drinks more than 5 bottles per week are either a luxury or an excess, then whatever the price of MQ Cola, we will limit our purchases as much 5 bottles per week. Students 3 not going to consume 12 bottles per week even though MQ Cola costs only Rp. 500, and he has the ability to buy that much. He will limit his consumption as much 5 bottles per week in order to avoid israf. as a result, the demand curve shifts to the left, or less the amount requested than without the awareness to avoid israf.

Needs are not limited to personal or family needs, but also the needs of our fellow human beings who are close to us. Did not the Prophet SAW ever say, ‘Not including my group of people who sleep soundly while they know their neighbors are in a state of hunger?”

b. Consume Halal and Thayyib

The consumption of a Muslim is limited to halal and thayyib items (QS. al-Baqarah ayat 75). There is no demand for illegal goods. Besides that in Islam, goods that have been declared haram for consumption automatically no longer have economic value, because it may not be traded. With regard to the first rule of over-prohibition, then halal goods cannot be consumed as much as we want. Should be limited to the extent necessary, for the sake of avoiding luxury, excessive ~ waste and waste.

Read Also :

• Difference between Islamic and Conventional Economic Systems
• The Right to Receive Zakat
• Characteristics of Islamic Economics
• Basic Principles of Islamic Economics
• Understanding Islamic Economics
• Doa Nurbuat

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