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Can Islam treat money as other commodity that can be bought and sold at the profit?
Wiki User
∙ 14y ago
No
Wiki User
∙ 14y ago
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Which is most accurately explains why commodity money has value?
A commodity is a good that is worth money, there is no such thing as "commodity money". So if you have a good that was purchased from a vendor that is by definition a commodity, its value is whatever you paid for it, my suggestion is a mark up and that is its profit.
Difference between money and commodity?
Money:-A value that serves as a generally accepted medium of exchange. Money have indirect utility. Money cannot be pinpointed or specified.Commodity:-A reasonable homogeneous good or material that can bought and sold freely. The commodity have direct utility. The commodity can be pinpointed or specified.
What is prohibited in Islam religion?
drinking alcohol, prostitutions, theft, Business involved in profit on lending money.
Difference between money and other commodities?
Money:-A value that serves as a generally accepted medium of exchange. Money have indirect utility. Money cannot be pinpointed or specified.Commodity:-A reasonable homogeneous good or material that can bought and sold freely. The commodity have direct utility. The commodity can be pinpointed or specified.
How can I invest in commodity market and make huge profit?
The commodity market is the major and most profitable part of the Indian market and the second one is the stock market. They both help to increase investors' money with the help of trading. Before entering the commodity market, you have to good knowledge about the commodity market, it will help you to understand the market and its strategy. For huge profit from the market you can get commodity market expert analyst tips. Analyst tips based on deep research about the market , they deeply analyze the market, then they provide the profitable tips.
Was wheat used as commodity money by the American colonies?
where was salt used as commodity money
What is an example of commody money?
The term you are looking for is commodity money. Some examples of commodity money are gold and silver.
Why does commodity money have value?
commodity money is a good that can be used as a medium of exchange or for some other purpose
How caliculate total profit?
Well for example, if you bought a car for 2000 and you sold it for 2385 then you take 2385-2000=385 your profit is 385.....profit is how ever much money you get that is more than what you spent.
4 similarities between money & commodity?
What is the difference between money and commodity? Commodity money is a sort of money that is considered as a present good. Whereas, fiat money is a future obligation as it is simply a promise to pay in the future. Payment is never made when it comes to fiat money, instead it is only discharged. But commodity money, on the other hand, completes the transaction.
Why is representative money more useful than commodity money?
What is the difference between commodity money and representative money
What is Commodity backed money?
Commodity-backed money is just what it sounds like: it's a currency where every unit of money--dollars, say--is backed by a stated amount of a commodity held in reserve by the government.
