ASSIGNMNENT NO 02

Submitted to: MISS NOUSHEEN ABBAS NAQVI

STUDENT NAME SHERAZ NADEEM

ID NUMBER 13925

EMAIL ADDRESS std_sheraz13925@mykasbit.edu.pk

CLASS AND B.COM 4 (MORNING)

BATCH

CAMPUS HYEDRI CAMPUS

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 QUESTION NO 01

ANSWER:

 CONSUMER EQUILIBRIUM:

When consumers make choices about the quantity of goods and services to
consume, it is presumed that their objective is to maximize total utility. In
maximizing total utility, the consumer faces a number of constraints, the most
important of which are the consumer's income and the prices of the goods and
services that the consumer wishes to consume. The consumer's effort to
maximize total utility, subject to these constraints, is referred to as
the consumer's problem. The solution to the consumer's problem, which entails
decisions about how much the consumer will consume of a number of goods
and services, is referred to as consumer equilibrium.

 CARDINAL APPROACH TO CONSUMER

EQUILIBRIUM:
From time to time, different theories have been advanced to explain consumer’s
demand for a good and to derive a valid demand theorem.

Cardinal utility analysis is the oldest theory of demand which provides an

explanation of consumer’s demand for a product and derives the law of demand
which establishes an inverse relationship between price and quantity demanded
of a product.

 ORDINAL APPROACH TO CONSUMER

EQUILIBRIUM:
The Ordinal Approach to Consumer Equilibrium asserts that the consumer is
said to have attained equilibrium when he maximizes his total utility
(satisfaction) for the given level of his income and the existing prices of goods
and services. The ordinal approach defines two conditions of consumer
equilibrium Necessary or First Order Condition and Supplementary or Second

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Order Condition.

To understand how the consumer reaches his equilibrium using the ordinal
approach we need to understand the following terms:

1. INDIFFERENCE CURVE
2. INDIFFERENCE MAP
3. MRS (MARGINAL RATE OF SUBSTITUTE)
4. BUDGET LINE

INDIFFERENCE CURVE:

The indifference curve shows the different combinations of two substitutes

(goods) that yield the same level of satisfaction (utility) to the consumer. This
means that the consumer is indifferent towards the consumption of two goods
which are closely related to each other.

INDIFFERENCE MAP:

The indifference map contains different indifference curves showing the

combinations of different quantities of two substitute goods on the basis of the
consumer preferences. The consumer can make different combinations of goods
by consuming less of one commodity or the other in such a way that all the
combinations yield the same level of satisfaction.

MARGINAL RATE OF SUBSTITUTE:

The marginal rate of substitution defines the rate at which one commodity is
substituted for another in such a way that the total utility (satisfaction) remains
the same.

BUDGET LINE:

As per the properties of the indifference curve, higher the indifference curve on

the indifference map, the higher is the utility derived from the consumption.
Thus, the consumer tries to reach to the highest possible indifference curve with
two strong constraints: limited income and market price of goods and services.
Since the amount of income in hand decides how high consumer can reach on

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his indifference map acts as a budgetary constraint. Therefore, the budget line
represents the different quantity combinations of available commodities that a
consumer can purchase given his level of income and the market price of goods
and services.

Necessary Condition or First Order Condition: 

Under the first order condition, the consumer reaches his equilibrium in the
same manner as he does under the cardinal approach of the two-commodity
model. It is expressed as:

By implication,

Thus, the necessary condition of the cardinal approach to consumer equilibrium can be
written as:

Supplementary or Second Order Condition:

The first order condition is necessary but not sufficient. Thus, the second order
or supplementary condition requires that the necessary condition must be
accomplished at the highest possible indifference curve on the indifference map.
The Ordinal Approach to Consumer Equilibrium asserts that the consumer
is said to have attained equilibrium when he maximizes his total utility
(satisfaction) for the given level of his income and the existing prices of goods
and services. The ordinal approach defines two conditions of consumer
equilibrium: Necessary or First Order Condition and Supplementary or
Second Order Condition.

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In the figure above, there are three indifference curves, Viz. IC 1, IC2, and
IC3 presenting a hypothetical indifference map of the consumer. AB is the
hypothetical budget line. At point ‘E’, the indifference curve IC 2 and Budget
line AB intersect and hence, therefore, the slope of IC 2 = AB. At this point, both
the necessary condition and the supplementary condition get fulfilled, and
hence, the consumer attains equilibrium at point ‘E’.

We know that between any two points on the indifference curve:

ΔY. MUy = ΔX. MUx

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Thus, the slope of the indifference curve can be written as:

The slope of budget line is given as:

In the figure above, at point ‘E’, MRS x, y = Px /Py and hence the consumer is said
to have attained equilibrium at this point. The IC 2 is tangent with the budget line
AB, which shows that the consumer has reached to the highest possible
indifference curve for a given level of his income and the market price of goods
and services. Thus, at point ‘E’ consumer consumes quantity OQ x of X and
OQy of Y, which yields him the maximum utility or satisfaction.

--------------------X-------------------

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 QUESTION NO 01 (B)

How is the modern science unable to deny the existence of ALMIGHTY

ALLAH (SWT)? Prove with the set of arguments the existence of
ALMIGHTY ALLAH through we are unable to grasp him with our
senses?

Answer:
 INTODUCTION:
Science is not a religion or a belief. It is a technique for verifying our assumptions about how
the universe works. These statements and many others are veritable invitations to humanity to
enrich their knowledge from all sources. It comes as no surprise, therefore, to learn that in
religion and science have always been considered as twin sisters and that today, at a time
when science has taken such great strides, they still continue to be associated.

What is more, in a century where, for many people, scientific truth has dealt a deathblow to
religious belief, it is precisely the discoveries of science that, in an objective examination of
the Islamic scripture, have highlighted the supernatural nature of revelation and the
authenticity of the religion which it taught.

When all is said and done, scientific knowledge seems, in spite of what many people may say
or think, to be highly conducive to reflection on the existence of God. Once we begin to ask
ourselves, in an unbiased or unprejudiced way, about the metaphysical lessons to be derived
from some of today’s knowledge, (for example our evolving knowledge of the smallest
components of matter or the questions surrounding the origin of life within inanimate matter),
we indeed discover many reasons for thinking about God.

 The Qur’an and Science:

For many centuries, humankind was unable to study certain data contained in the verses of
the Qur’an because they did not possess sufficient scientific means. It is only today that
numerous verses of the Qur’an dealing with natural phenomena have become
comprehensible. There are also some very rare examples of statements in the Qur’an which
have not, as yet, been confirmed by modern science.

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I shall refer to these by pointing out that all the evidence available today leads scientists to
regard them as being highly probable. An example of this is the statement in the Qur’an that
life has an aquatic origin

{ “And I created every living thing out of water” Qur’an, 21:30 }

 Science unable to deny God:

Indeed, science has brought us an immense amount of understanding. The sum total of
human knowledge doubles roughly every couple of years or less. In physics and
cosmology, we can now claim to know what happened to our universe as early as a tiny
fraction of a second after the Big Bang, something that may seem astounding. In
chemistry, we understand the most complicated reactions among atoms and molecules,
and in biology we know how the living cell works and have mapped out our entire
genome. But has modern science, from the beginning of the 20th century, proved that
there is no God, as some commentators now claim? Science is an amazing, wonderful
undertaking: it teaches us about life, The world and the universe.

 But it has not revealed to us why the universe came into existence nor what preceded
its birth in the Big Bang. Biological evolution has not brought us the slightest
understanding of how the first living organisms emerged from inanimate matter on
this planet and how the advanced eukaryotic cells—the highly structured building
blocks of advanced life forms—ever emerged from simpler organisms. Neither does
it explain one of the greatest mysteries of science: how did consciousness arise in
living things? Where do symbolic thinking and self-awareness come from? What is it
that allows humans to understand the mysteries of biology, physics, mathematics,
engineering and medicine? And what enables us to create great works of art, music,
architecture and literature?

 Science is nowhere near to explaining these deep mysteries, from past years science
has proven that everything is running through science there is no external power who
move anything rather its science. The moving earth, the things pull down toward the
ground, many proofs around us can show science and its power. it all about science.
Science has made so much progress in the world and still improving better and get
his standard on another level. Science and religion are two sides of the same deep
human impulse to understand the world, to know our place in it, and to marvel at the
wonder of life and the infinite cosmos we are surrounded by. Let’s keep them that
way, and not let one attempt to usurp the role of the other.

 Almighty Allah proving himself of his presence:

Human beings sense the existence of God—or what they perceive as a higher power—by
pure instinct, with or without a prophetic revelation to guide them. Expressions of this senses

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divinities have appeared in cultures and religions all over the world, despite them being
widely separated by time, geography, and language. In Islamic spiritual terms, this is because
God took a primordial covenant with every person before the world was created that they
would recognize their Creator.

Allah said:

 [Prophet], when your Lord took out the offspring from the loins of the
Children of Adam and made them bear witness about themselves, He
said, ‘Am I not your Lord?’ and they replied, ‘Yes, we bear witness.’ So
you cannot say on the Day of Resurrection, ‘We were not aware of this.’ [2]

All people were born to be believers in God, and the revelations of the Prophets simply
awaken and reinforce the disposition that is already inside us. Even polytheists, who believe
in multiple gods and deities, often believe that there is an even higher power, an even greater
God over all of them.

 Allah said:

If you asked them who created the heavens and earth, they are sure to say,
‘God.’ Say, ‘Praise belongs to God,’ but most of them do not understand. [6]

 And Allah said:

If you [Prophet Muhammad] ask them who created them they are sure to say,
‘God,’ so why are they deluded? [7]

Since all humans can sense a higher power, they will instinctively turn to God in times of danger.
Every person, at some point in his or her life, will have an intense experience that causes a natural
reaction to turn to prayer. There are many cases of people who experience a sudden brush with
death that causes them to become more faithful to their religious tradition.

 Allah said:

Whenever they go on board a ship they call on God, and dedicate their faith to
Him alone, but once He has delivered them safely back to land, see how they
ascribe partners to Him! [8]

 And Allah said:

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Say [Prophet Muhammad], ‘Who is it that saves you from the dark depths of
land and sea when you humbly and secretly call to Him [and say], ‘If He rescues
us from this, we should truly be thankful’? Say, ‘God rescues you from this and
every distress; yet you still worship others besides him.’ [9]

 Proving of his presence in our senses:

This contention is false, as it implies that God is nothing. God is a unique agent with the potential to
create and bring things into existence through His will and power. Therefore it is not the case of
something coming from nothing. God’s will and power were the causal conditions to bring the
universe into existence. Since this creator is uncreated, it means that it was always in existence.
Something that did not begin has always existed, and something that has always existed is eternal.
The Qur’an makes this very clear: “

He neither begets nor is born

.The Qur’an, Chapter 112, Verses 2 and 3

Something coming from nothing is impossible, because nothing implies non-being, no

potential and no causal conditions. It is irrational to assert that something can emerge from an
absolute void without any potential or prior causal activity. God provides that causal activity
via His will and power. Even though the Islamic intellectual tradition refers to the God
creating from nothing, this act of creation means that there was no material stuff. However, it
does not assume that there were no causal conditions or potential. God’s will and power form
the causal conditions to bring the universe into existence.

Mankind, in general, has maintained a belief in the existence of the Creator of the Universe
since time immemorial. The duty of the prophets of Allah was not so much to inform their
people of Allah's existence as to warn them against associating others with Him, and to teach
them how to serve Him. Allah Says (what means)

"Their messengers said, 'Is there any doubt concerning Allah, the originator of
the Heavens and the Earth?'" [Quran 14:10]

As already mentioned, the human being has an inherent and inborn recognition of his
Creator. This is a consequence of a pledge which Allah took from the soul of every one
of us before we came into this world, Allah Says (what means) 

"And [remember], when your Lord took from the children of Adam, their
children behind them, and made them testify over their own selves, [saying to
them], 'Am I not your Lord?' They said, 'Yea.'"[Quran 7:172]

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 ----------X--------

QUESTION NO 02

How does Islam is considered as a complete cod of life? Support your

answer with Qur’anic references?

Answer:
The claim of Muslims that Islam is the complete code of life is not merely a false or shallow
claim, rather from reading the ayahs of Quran and the knowing traditions of Prophet
Muhammad (PBUH) give this claim a strong and provable groundings on the bases of which
a Muslim can follow Islam and its instructions without any doubt.
The prime focus of Islam is to make sure that maximum of its followers’ rest in heavens in
the afterlife. However, in order to do so, the followers have to live this life according to the
instructions of Islam and follow the path of righteousness. Unlike other religions, the path of
righteousness is not related to religious traditions and obligations only, rather righteousness is
to be observed in every aspect of life and this is why Islam gives proper instructions to live
life. Before moving on to explaining how Islam gives complete code of life by giving some
examples, the need is to understand the essence of being righteous or doing right deeds in this
world. In Quran, Allah Almighty says:

“Say: ‘Truly, my prayer, my sacrifice, my living and my dying are for Allah,
the Lord of the worlds. No partner has He: this am I commanded, and I am
the first of those who submit to His Will.” (6:162-163)

From the ayah in can be deduced that one of the prime purposes of human life is to submit to
the Will of Allah. Now the question that arises is that how can a Muslim know the will of
Allah or what it is as a whole? This is what gives the answer to the complete code of life, as
Allah Almighty has given His will with regards to the way Muslims must live life, so that it is
according to His will and the Muslims could be rewarded consequently. Regarding this Allah
Almighty says in Quran:

“For those who believe, and work deeds of righteousness is a reward that will
never (fail).” (41:8)

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Therefore, the prime reason behind Allah Almighty giving a complete code of life is the fact
that there should be no area in the life of a Muslim that does not have any instructions, and by
following those instructions in life Muslim actually submits to the Will of Allah, which
pleases Him and He then rewards a better world to the Muslims in the world Hereafter.

The lines below give some examples of Islam being complete code of life by highlighting the
instructions related to different walks of life.

Islam does not emphasize upon the religious life of a person only, rather it commends the
followers to be honest in every walk of life, especially when it comes to trading in the form
of buying and selling.

In Quran, Allah Almighty says:

“O you who believe! Stand out firmly for Allah, as witness to fair dealing,
and let not hatred of others make you swerve to wrong and depart from
justice. Be just: and fear Allah. For Allah is well-acquainted with all that you
do.” (5:8)

Therefore, from this ayah, it is clear that Islam wants Muslims to be just and be fair in their
dealings. Further to that Prophet Muhammad (PBUH) said in one of His hadiths:

“”The seller and the buyer have the right to keep or return goods as long as
they have not parted or till they par; and if both the parties spoke the truth
and described the defects and qualities (of the goods), then they would be
blessed in their transaction, and if they told lies or hid something, then the
blessings of their transaction would be lost.” (Bukhari)

Therefore, pertaining to conduction of trade, Islam has given forward its rules and for a
Muslim to be successful in this life and the one hereafter it is imperative to follow these rules.

In addition to honesty in business, Islam also wants the followers to be fair

especially when it comes to weighing and measuring the goods in business.
Allah Almighty says in Quran:

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“Give full measure when you measure, and weigh with an even balance. That
is the best (way) and best in result.” (17:35)

Thus, Islam wants the followers to be just in dealing and whenever it comes to weighing or
measuring goods for selling and buying purposes, one needs to be fair and just in that
occupation as well.

Another evil for which the societies of the world today have laid down laws and
regulations is bribery. It is abhorred in all societies, however, for them it is
purely a matter of legal pursuit. On the other hand, Islam does not let bribery go
out of the reach of the religion, and condemns it in the religious manner so that
Muslims wont fall prey to it. Allah Almighty says in Quran:

“And do not consume one another’s wealth unjustly or send it (in bribery) to
the rulers in order that (they might aid) you (to) consume a portion of the
wealth of the people in sin, while you know (it is unlawful).” (2:188)

This ayah explicitly forbids the act of bribery and regards it as a sin. Therefore, for people of
other religion and societies, bribery might be against the law, however, for Muslims, bribery
is against the religion.

Where people in different societies of the world are laying down rules and
regulations to ensure peace, Islam gives the need for peace as a religious and
moral instruction. Allah Almighty says in Quran:

“The recompense for an injury is an injury equal thereto (in degree): but if a
person forgives and makes reconciliation, his reward is due from Allah; for
Allah loves not those who do wrong.” (42:40)

Therefore, Islam does not encourage violence, rather it wants its followers to be
peaceful and forgiving to ensure a society where love prevails.

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  CONCLUSSION:
Above all the one thing that Islam preaches to its followers the most is kindness
towards others. Islam wants the followers to be peaceful and live a life where
they are kind towards the others and respect and care for each other. Regarding
this, Allah Almighty says in Quran:

“…..Treat with kindness your parents and kindred, and ophans and those in
need; speak fair to the people; be steadfast in prayer; and give
Zakaah.” (2:83)

Thus, one ought to be kind towards all if one is a true Muslim. Other societies
of the world that work on preaching ethics to people, Islam makes kindness a
part of religion. Moreover, besides kindness in general, Allah has given the
rights to women which the women of west have come to gain not more than a
century ago. Regarding the rights of women, Allah Almighty says in Quran:

“O you who believe! You are forbidden to inherit women against their will.
Nor should you treat them with harshness, that you may take away part of the
dower you have given them, except where they have been guilty of open
lewdness. On the contrary live with them on a footing of kindness and equity
if you take a disliking to them it may be that you dislike a thing, and Allah
brings about through it a great deal of good.” (4:19)

In a nutshell, there is no matter of life about which Islam has not spoken
either in the form of verses of Quran or in the form of traditions of Prophet
Muhammad (PBUH). Therefore, whenever there is guidance required by a
Muslim regarding any aspect of life, he or she must consult both these
resources before going for any other book or worldly rule.

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