The theory of consumer behavior (21)

The Islamic model of consumption according to Fahim Khan must be based on the concept of need compared to mainstream economics concept of wants.

Both need and want are the tools used to measure consumption behaviour but the former is more practical.

Because, the subjectivity of the latter.

To satisfy want will be difficult because each individual might have different wants compare to fulfill need.

The conventional theory of utility is replaced by an Islamic term of maslahah.

Which is defined as a property or power of a good or service that promotes the basic elements and objective of the life of human beings.

(Fahim Khan, 1992: 12)

Maslahah instead of utility introduced in shariah which is aimed at protect and improve the five basic elements of the existence of human being in this world.

These are: life, property, faith, intellect and posterity.

to be continued...

Source: Islamic Science University of Malaysia