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Erschienen in:
2016 | OriginalPaper | Buchkapitel
9. Production Theory
verfasst von : Seyed Kazem Sadr
Erschienen in: The Economic System of the Early Islamic Period
Verlag: Palgrave Macmillan US
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Abstract
The chapter reviews firm theory and applies it to Islamic production rules of behavior, such as refraining from wastage, extravagance and harming others. The discussion is preceded by an exposition of the concept of efficiency and how it can be achieved in production activities. The chapter concludes by explaining why the concept of efficiency is not applied to consumer behavior in the conventional theory.