Assume two people live in the same neighborhood, the same size house and earn identical incomes. Both are unmarried without children. How might one of them actually be poorer than the other?
What will be an ideal response?
Poverty is not measured strictly based on income alone. There may be other factors that make one of them poorer than the other. One might be the amount of human capital that one person has that the other does not, like education or training. Another might be the amount of assets each has or the lack of good health. There are a myriad of reasons why one of them may be poorer than the other even though they make identical incomes.
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During an economic slump such as the 2008 recession, what pricing strategies could a fast-food chain such as McDonald's use to maintain its sales? Use some of the concepts discussed in this chapter in your answer
What will be an ideal response?
The Islamic waqf is:
a. a permanent trust b. the founder's instructions can be changed at will c. no different from a western corporation d. requires interest payments e. both a and b are correct