Question # 1

The renowned economist and Islamic scholar who applied principles of politics economics was.

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Imam Abu Haneefa

ibn e Khaldun

Imam Abu Yousaf

Abu Qasim

Conspicuous consumption on unproductive assets and luxurious goods is considered against the concept of.

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Islamic consumption

Taqva is Islam

Spending in Islam

Islamic production

Forced labor is one of the greatest injustice in the world according to.

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Imam Abu Yousaf

Imam Abu Qasim

Khalil Jabran

Ibn e Khaldun

In Islamic economic system holding is considered against the right of.

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Entrepreneurs

Labour

Consumers

Producers

Loss must be shared according to ratio of respective investment in case of.

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Musharika

Hire purchase

Mudaraba

All of these

The Islamic mode of business where the subscriber participate with the money and the manager with skill and labor is.

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Qarz -e - hasna

Musharika

Mudaraba

Islamic business

A activates which do not promote human welfare cannot be encouraged.

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Western estate

Police state

Islamic estate

None Islamic estate

For a Muslim living within the code of Islam primary source for the the solution of economic problems is.

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the Holy Quran

Sunnah

Both a and b

None of these

"Zakat" is a charity on.

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Wealth / income which stays with a Muslim for at least one year

Levied on a Muslim who is sahib e Nisab

Deducted at the rate of 2.5% of the income

All of the above

Mudaraba business is administered by the Mudaraba companies and Mudaraba rules .

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1990

1980

1981

1978

In 1980 the government of Pakistan promulgated.

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the Modaraba Ordinance

the Musharaika Ordinance.

the Zakar ordinance

the Ushar ordinence

One of the following is the renowned book of Imam Abu Yousaf

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Kitab ul khiraj

Kitab ul Anwal

Kitab ul Aloom

All of the sese

Following is the important feature of the Islamic economic system.

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Zakat

Usher

Mudaraba and Musharika

All of these

Expenditure on unproductive assets are strangely criticized and savings are emphasized by

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Ibn e Khaldun

Ibn e Taimiya

Nasiruddin Tosi

None of these

By death of any partner business will be dissolved in case of

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Partnership

Musharika

Hire purchase

Mudaraba

In Islamic economic system following means of gaining wealth are permitted

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smuggling

Hoarding

Gambling

None of these

In Islam absolute ownership of property lies only with.

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Government

Owner of the property

Allah

None of these

Zakat in an important feature of Islamic economics system which is given from

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Poor to rich

Producers to consumers

Banks to people

Rich to poor

The main monetary tool in Islamic economic system regarding circulation of wealth is zakat it is for.

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Poor and needy

consumers

Producers

Banks

According to Islamic economic system the producers can earn.

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Normal loss only

Normal profit only

Abnormal loss

Abnormal profit

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