ABSTRACT
This chapter provides a comprehensive basic discussion on the subject of Islamic economics. It states that Islamic economics is not restricted to Islamic society only but also includes all economic behaviour where the central embedded role of Tawhid as law pervades the socio-scientific domain of ‘everything’. It also explains the analytical meaning of consumption and investment function without involving riba (interest/usury), mysir (gambling) and gharar (uncertainty) which come under the heading of Islamic economics.
