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Consumer Behavior in Islam
Abstract
Consumer behavior in Islam has emerged as a promising area of interest to researchers in Islamic economics in recent years. This chapter aims to develop an understanding of consumer behavior in Islam, reflecting on the teachings and values of Islam. It also goes on to identify the nature and characteristics of the utility function in the context of Islamic economics. Islam has given great attention to the consumer as a member of the community. Many of the verses of Holy Quran and sayings of the Prophet Mohammad (PBUH) indicate the need for consumer protection in accordance with the provisions of the Islamic Shariah. Consumer protection in Islamic economics can be achieved by a set of Islamic guidelines established in the Holy Quran and Sunnah that indicate the need for Muslim consumers to control the source of spending through the consumption of lawful and beneficial goods and services.
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