Marketing Mix Presentation Essay Example | Topics and Well Written Essays - 500 words

Marketing Mix Presentation - Essay Example The company offers services on a full pay basis. The company’s location is at the middle of the city centre to enable quick and easy access for its customers. The extended specialized services such as personalized care and the clinics attract more customers to the facility. . The company prices its products on minute basis. The differences between the minutes are not proportional to the difference in price increment. The clients are at liberty to choose the kind of service that best suits their budget. The company’s location at the beach facilitates ease of access considering that many people go to the beach. The many promotions offered attract many customers to pose as regular customers so they can enjoy the promotions. Advertising of the company’s website, provision of retreat services alongside SPA services, provision of extended gifts such as Message Gifts Certificates and Beauty Gift Certificates to regular customers, promotions such as Shanghai Promotions d uring May. The company offers services on a minute basis. The increment in minutes is not proportional to the increment in price charge. The pricing dissuades the customer to seek the service with a higher quality than the one they intended before. The quality of services depends on the price charge. The customers therefore have the freedom to choose based on their budget demands. The company also offers specialized services unique to the Chinese and Japanese culture. Product specialization attracts more customers to seek the specialized services. The companies offer, mostly, similar products differentiated by the brand name which incorporates the company’s name. The companies have adapted to the surrounding demographic requirements as they offer services unique to the surrounding population.

Effect of Health Inequalities

Effect of Health Inequalities Grace Delavin What are the contemporary issues in health care and its impact on the national and international healthcare policy? What are the rationale or justification for policy intervention solution to address contemporary health issues in the international issues on education and training, tax benefits and payment to caregivers, respite care and financial support and provision of pension credits for caregiving? Abstract Disparities in ethnic and racial minority in connection to quality health care are prevalent but not extensive. This assessment brings in assessing an analysing the health care disparities and how it impact the health care policy in national and international level in addressing education and training, tax benefits and payments to caregivers, respite care, business regulations combining work and care giving and also financial support and provision credits for care giving. The findings bought about the major impact have on in achieving quality health care services to ethnic and minority people. Introduction The name for health inequalities indicate the population definite distinction in the existence of disease or illness, health issues, nature of health care assistance that prevails from different ethnic class. Inequalities show lack of ability within the health care scheme and thus reports for unneeded cost. There are lots of factors that accord to ethnic, socioeconomic inequalities, racial as well as lacking approach to health care, low aspect of care, community countenance such as difficulty and violence and also personal attitude. These circumstances are sometimes correlated with not well provided tribal and ethnic minority troops, individuals that experienced monetary difficulty, those people who are living in far flung areas or communities were in medical services is not accessible. And also individuals residing in rural and urban areas that experience health inequalities. Even though there are continuing endeavour to lessen health inequalities, tribal and ethnic minority troops inequalities in health still remained. Even when salary, access to care and insurance are accounted for, inequality continue. Poor performance on a scope health gauge such as life expectancy, infant’s death, pervasiveness of diseases or illnesses and insurance scope affirm inequalities between minority troop’s community and their white fellow. For instance, babies born by black mother are 1.5 to 3 times more prone to die than those born by mother of other ethnicities. Cancer is one of the major cause of deaths for more tribal and ethnic minority troops. African American men are more feasible to die from prostate cancer than whites and also Hispanic woman are more likely to die from cancer of the cervix. Indians, African Americans Alaska natives are more likely to have diabetes than whites. Life Probability and all total health for most Americans had improved for the recent years. Due to the improved target on the advances in medicines and medical technology as well as in the preventive aspects of illnesses. While most of the Americans now are living healthier and longer, still inequalities exist. For most number of tribal and ethnic minority troops attaining good health is hard to achieve because often it is associated with individual’s race, gender and economic status. Policy makers are answering to these issues through introduction of legislations with the aim of eradicating health inequalities. Disparities in Access to Healthcare Evaluate the impact the contemporary issue on national and international healthcare policy in your case study. Discuss and critically analyse the rationale or justifications for putting into place each of the below listed types of policy intervention solutions globally to address the contemporary health issues education and training tax benefits and payments to caregivers respite care business regulations combining work and care giving tax benefits and payments to caregivers There are many reasons for disparities in access to healthcare like: Lack of insurance coverage -Not having health coverage, patients are more inclined to delayed health care, more prone to go not having desired medical care, and more inclined to go not having the prescribed drug. Even if clinicians and policy makers are more familiar of tribal and ethnic minority troops inequalities in the kind of medical care, there is insufficient accord on mediation that should be attempted in reducing such disparities. The most common widely developed action by the Department of Health and Human Services (HHS) directed towards changing consumer attitude by supporting them to health professionals or doctors for their health screening or analysis. Also the private and public sectors that force to promote the cultural capability of health care providers, develop the ethnic and minority tribal troops’ equality of the health manpower and to gather and supervise data to be use in health services by the tribal and ethnic minority troops. These access are all sign ificant factors in eradicating tribal and minority inequalities in care importantly those who have scope in insurance. Lack of a regular source of care-Not having an extensive connection in the health care services patients have higher dilemma in achieving quality care. This obstacles in achieving of quality health care services may lead to unexpected health demand, patients may likely to die at an early age and may have a poor health condition. Approach to health care strikes to total mental, social and physical condition, avoidance of disability and diseases, early apprehension and treatment of health status, promote quality of life, avertable death and life expectancy. Lack of financial resources-This financial obstacle directly alter patient’s welfare. Not able to manage the essential remedy on rising rate of minority people may result in delaying or preceding the recommended medical regimen and are less expected to receive precautionary services or persistent care for chronic health conditions or problems. Legal barriers-Approach to health care by small earnings migrant minorities can be interfered by legal boundary to public insurance plans. These scope regulation harbor adverse disparities in accessing to quality health care services. And through the unbalanced access to health scopes threaten the well-being and health of migrants. Structural barriers-These encompasses the area to travel which cover poor access of transportation, the inefficiency in scheduling suitable appointments immediately or during the convenient hours I health care facilities . And the long waiting time spent in the clinic waiting room. These factors affects patient’s strength and eagerness in obtaining the necessary care. Scarcity of providers-People living in rural areas and society with huge concern of minority populace is having problem in accessing to health care services. This issue can be bound due to the lack of medical care specialists and other needed diagnostic facilities. There is possible solution to this problem by altering the health education scheme so more physicians can be train to choose rural practice. Linguistic barriers-Differences in language impede approach to health care for minorities that are not efficient and proficient in English. Healthcare system and providers should to be culturally and linguistically capable when giving medical services. Enhanced understanding to the health system, belief and developmental needs of the patients is enforced clearly in order to provide reasonable approach to medical care for distinct populace. Such plan must allow that the health care provider and the tribal patients must bring their individual owned learning languages pattern and culture to their healthcare providers. Health literacy Narrowed patients literacy is an obstacle to medical treatment or diagnosis. Patient should know the approach of risk and the possibility in order to make a good decision or choices the treatment and with that to act as a genuine partners in the patient –doctor relationship. Interference of physician and patient may lead in helping to improve health care quality for large populace of patients with has low literacy rate or skills. This issue in health literacy are more obvious than in white people because of educational and socioeconomic factors. Lack of diversity in the health care workforce-A big reason for inequality in a workforce for accessing quality care are the cultural distinctions especially between white health providers and minority clients or patients. There are factors in determining greater access to diversity in the workforce such as accelerating cultural proficiency and expanding approach to a great health services. In doing it more effectively, health care promoters or providers should have a solid understanding why and how distinct system of beliefs, biases in culture, family structure, ethnic origin and other factors that influence the manner why people struggle illness, observe medical recommendation and react to treatment. There are ample deposition in New Zealand of compelling disparities in health among ethnic groups, socioeconomic groups and other people residing in distinct regions. According to surveys the populace apt to disparities and circumstances as Pacific, Maori, low income workers who had adversity in achieving health services in times of hours of work, elderly, migrants, rural and those with difficulty or poor in English language skills. The health setup itself afford to health disparities. In New Zealand, tribal integrity is a significant scope of medical disparities. Pacific people and Maori struggle low life expectancy rate and adverse medical circumstances across morbidity and mortality index compared to Europeans. And also socioeconomic deprivation such as education, housing, income and employment. Disparities in Maori and non-Maori are fascinating in equities in health. The Health status and socioeconomic stands identified three types of distinct tribal disparities. These are the gap, result of the gap and inclination of the gap. The government is committed in attaining quality of health care services in New Zealand and reducing or eliminating health disparities between groups of population. The Health Ministry have structures action for implementation and developing extensive strategies namely medical and disability backing benefit, economic and social purpose of health such as environmental, behavioural and other material resources. The effect of reaction of ill health on socioeconomic situation and the economic and social eliminating in health. In comparison with the disparities in international level for example Inequalities in health among European countries is increasing. It is fair increasing that universal approach to medical care is important in creating a balance distribution of medical care. Further action needs in directing the motivation of health-developing the working and living circumstances and policies in supporting clear behaviours in health. Health care kind and opportunity helps explain health inequalities. Barriers to medical care approach includes lack of benefits in insurance, cost in financial care, lack of instruction, geographical inequalities, literacy in health, discrimination, language inequality, socio-cultural assumption in assumption to life and use of care. The present economic situation may lead to increase in health inequalities by decline of social element in health, especially to those who have decreased accomplishments and savings. The loss of employment that will lead to difficult lifest yle and living conditions. Unemployment or career insecurity promote an increased stress level and health detrimental behaviours. The European countries is devoted to decreasing disparities in connection medical care and health result. The European states member have formed unified approach associating policies in education, environment and economic development. The European Commission had adopted a policy recently outlining strategic access to address medical disparities. The intention is to give support to the national regional and local government and other agencies to tackle medical disparities more efficiently. These strategies seek to increase awareness about the need to shortened medical inequalities and to contribute a framework for work among countries and stakeholders. Education and Training. Education and training can help inequalities from among the tribal groups and white people for instance taking care of patients can me be enhance through gathering and reporting significant data on patients education, ethnicity or race can decrease inequality by assimilating cultural analysis or education into the medical professions teaching or trainings, and the research can help in improving the health result through understanding sources of inequalities and encouraging interference. These interventions can lead in eliminating health care inequalities and provide initiative through determining quality development and creating inequalities solution. Like for example in academic medicine in United States had numerous significant roles in the society which includes administering special and health services, providing care for the uninsured and for the poor, cultivating medical professional through education and engaging in research. Respite Care. Aging population contributes to the increasing demand of medical care and health services with concurrence of greater difficulty of having lifelong diseases and retirements from the workforce. In order to meet the health care needs of the patients the human resource of the department of health promotes a scope of action through grant, payment and other program approach to expand and enhance the essential responsibility or care in the workforce, supporting physicians to indulge and to continue practicing their filed in the primary care, making complete physician’s service, managers, integrating the health workers in the community to health care delivery system, promoting efficient teams or groups of medical professionals and other specialists, strengthening health professionals competencies. These strategies will help diminish inequalities and help improve the health condition of the population and to augment the resources. Tax benefits and payment to caregivers. The Affordable Care Act of 2010 in the United States rise approach to care, generate more affordable health insurance, enhance Medicare and assure that people have more authority and security that medical or health insurance will be possible whenever needed. This act access to expand medical aid for families or adults that have low earnings. The human and health services in the US is bound for enforcing provisions to widen coverage, prevention, enhance the quality of health care services and patient reaction towards health care settings, assure safety of the patient, improve proficiency and liability and to work across in achieving a high valued health care. Business regulations combining work and care giving. Proponent of additional reforms recognize that they are lower than choice public approach. Additional reforms cannot be realise in a universal scope, greatly diminish administrative costs. The major advantage claimed for additional reforms is political growth. Minimising the reconstitution of the delivery of health care can promote the political chance of achievement. Health care regulations will provide high quality care, distinguished care can lead to high health aid. The need to freedom of preferred medical care, that is to control their choices in health care. Cares are affordable and Citisens will share the health benefits of care. Financial support and provision of pension credits for care giving. On top of inequality lots of employed or poor working individuals who have connection, but can’t manage to pay for occupation insurance. In order to anticipate the event for development it is essential to understand the concepts of insurance. Employer plan are only beneficial to those employee covered with the plan. For example, in Canada the old age security benefits is important in providing monthly pension once the person reached the required age. This is created in order to provide individual who are not designated to a pension with a yearly compensation during the definitive retirement age. Another plan is the CPP in Canada wherein it provides retirement premium for those that afford to the plan by paid occupation, this plan also grant benefits for disability and other health benefits. The diversity in caregiving rapport and employment chances is that numbers of reconstitutes may be needed to answer insurance issues or pensions issues in a broad manner. Conclusion Health inequalities negatively affect the population who have experienced higher difficulty to health on the ground of their gender identity, religion, racial or ethnic group, age, socioeconomic status, mental health, physical disability, geographical location and other factors that is linked to discrimination. Decreasing inequalities in health will give a chance for everyone to leave an improved and healthy life. Ad in order to achieve this the government must ensure a vita focus on communities that are greater risk. Minimise inequalities in approach to health care quality. Improve the prevention capacity workforce to identify and address inequalities. Support the research in order to identify efficient strategies to reduce inequalities in health. Assimilate and collect data in order to identify and address inequalities. And also the government can use the data in order to identify those population that are the greatest risk and to work with the community in implementing programs an d policies that addresses high preferences. Improve collaboration, designation and convenience for inviting leaders in the community in prevention. And enhance privacy guaranteed medical data compilation for population that is underserved to help in improving policies and programs. For the business owners and employers, they can provide scope in workplace avoidance like precautionary screenings. They can partner with resources in locality like libraries in enhancing employee’s efficiency and to select reliable information’s in health. For clinicians, insurers they can raise the communication and cultural proficiency of medical providers. Hire and train more competent staff form marginalised ethnic and racial minorities and those people with disabilities. Enhance regulation in quality of care. For universities and learning centres they can plan research in identifying new efficient policies and program mediation to decrease health inequalities. Established and implement techniques in order to reduce physical, health and conditions in the environment that may affect the absenteeism. For families they can participate in community achievement. Use the resources in the community to enhance their ability in reading, understanding and using the medical information. References: (www.ama-asn.org/resources/doc/ethics/ceja-2a09.pdf, n.d.) (www.content.healthaffairs.org/content/21/5/90.long, n.d.) (www.healthypeople.gov/2020/topicsobjectives2020/overview.aspx/topicid, n.d.) (www.hhs.gov/strategic-plan/health-workforce.html, n.d.) (www.ncbi.nlm.nih.gov/pmc/articles/PMC1071163, n.d.) (www.rnzcgp.org.nz/assets/documents/standards-policy/health-inequities-position-statement.pdf, n.d.) (www.surgeongeneral.gov/initiatives/prevention/strategy/elimination-of-helth-disparities.html, n.d.) (www.uptodate.com/contents/literacy-and-patient-care, n.d.)

Pride in Homers Iliad :: Iliad essays

Pride in The Iliad      Ã‚  Ã‚  Ã‚  Ã‚   The period in which the events in The Iliad took place were different than the times of today. Back then, the most important aspect of life for a person was to be a hero and to be   remembered.   One's pride would come before everything else. In the present day, this concept would be thought of as illogical or foolish. This is certainly true. But, that is how life was in that time- peoples' beliefs were to be the death of them. Pride was the downfall of all characters in Homer's epic poem, The Iliad.      Ã‚  Ã‚  Ã‚  Ã‚   Hectors fatal mistake was that he chose pride over his own well being in the battle with Achilles. He could have taken safety within the walls of Troy, or disappeared into a mass of his comrades, but Hector chose to stand his ground and confront Achilles.  Ã‚   "Ah for a young man all looks fine and noble if he goes down in war...he lies there dead...but whatever death lays bare, all wounds are marks of glory."   If   Hector had salvaged his pride and retreated to safety, he would have lived to defend Troy. Therefore, the possibility arises that he could have stopped the onslaught of the Acheans altogether, and won the war for the Trojans. The result of Hectors pride was his death and the betrayment of his fellow warriors and friends.      Ã‚  Ã‚  Ã‚  Ã‚   Another person within the Iliad whose pride was the downfall of his character, was Patrocleus. Patrocleus was a great warrior, friend, and asset to the Achiens. But, he made foolish choices on account of his pride. For instance he chose to wear Achille's armor into battle when Achilles refused to fight. This was only for his self-glorification. "...Once you have beaten off the lethal fire, quick, come back to the ships-you must not battle Hector!"   After going into battle brandishing the armor, Patrocleus becomes overzealous and places himself at the enemy's disposal. If Patrocleus would have thought logically, and not acted on pride, he would of remained alive.      Ã‚  Ã‚  Ã‚  Ã‚   In addition to Hector and Patrocleus, the main character in The Iliad - Achilles, was also brought to ruin by his pride.   For example, he was too proud to fight in the war when Agamemnon took his woman.

Spanish vs. Ottomans

When empires expand, they all have a plan in mind on how and why they want to expand. It can differ from religious, wealth, or power reasons. It can also be with areas surrounding them or land far away. Simultaneously, empires can use similar military techniques, ways of keeping people in order, or ways of keeping up the economy. During the time of 1450 to 1800, the Spanish Empire and the Ottoman Empire responded to their empire building similarly in the idea that spreading their religion was their first focus, while there were differences in their social and economic values because their regions required them to be that way.The Spanish and the Portuguese originally originate from the Iberian Peninsula where Christianity was popular. In an attempt to expand, the Spanish sought after America. They look at it as a land they could conquest and convert over to Christianity. The Ottoman Empire, who was originally Turkish rising in the areas of Anatolia and the Balkans, was founded under t he religion of Islam. The sole purpose was to take Islam further. However, when they expanded it wasn’t like a monarch anymore but the sultans just handed power over to warriors.That way they could spend time adding more people to the empire instead of just fixing the government. The Spanish, on the other hand, were more hands on. They created institutions, taxed the natives, and had forced labor going on. Their focus was geared toward making their empire stable enough that they could conquer more natives, not having to worry about the government. The main difference was that the Spanish were more hands on while the Ottoman’s concern shifted to status. Around the late Eighteenth century early Nineteenth century is when hierarchy became a major issue for Spanish while the Ottomans fell into place.For both, the ruling class, the Europeans for Spanish and the sultans for the Ottomans, was at the top of the hierarchy. Beneath there is where both empires differ. The Ottoman s had merchants and artisans beneath the sultans which was very uncommon. However, they gave much of the contribution of the arts for the Ottomans. They are the cause of shops being opened and public works being done that wouldn’t have been complete otherwise. On the other hand, the Spanish was more focused on your race and gender while still giving reference to your job.Whites were at the top having the dominant roles, mixed races such as mestizo and mulatto in the middle, and black people at the bottom. Their structure was made so that Europeans would constantly rule and that slaves could only do their job: work. That way no matter how many people were added on they’d have the foundation that the empire can build off of. Lastly, the Spanish and Ottomans focus on building the economy had two different focuses. While the Spanish were concerned with silver, gold, and sugar, the Ottomans were focused on expansion.When landing on Peru, the Spanish quickly created silver m ine. That led to labor work of people of lower class. This way the Spanish has a wide rule of people that can continue to grow the mining industry as long as they continue to bring in slaves. Granted that that system worked, the Spanish could now export silver in exchange for goods. It’s in Brazil where they got the sugar to exchange for slaves that continued to make their population increase. On the contrary, the Ottomans wanted warriors in charge. Under their control war and taking of nearby territory became focus.Janissaries, a group of an Ottoman army, got an increase in weapons which soon led them to dominating a lot of territory. Equally, both the Spanish and Ottomans went after an area they thought would be beneficial in growing. Ultimately, the Spanish and Ottomans had similar foundations while still being different. Both grew tremendously in their own way under their own religion. However, the empires ended because they were too focused on one area of the empire but not another. The Ottomans was with war and the Spanish with money. The important part was that both left a legacy behind.

A Medium of Exchange and a Unit of Account Versus Money

These Short Essays are partial fulfillment of Paper IE1001 of Part 1 of Certified Islamic Finance Professional (CIFP) [DRAFT V0. 5] INCEIF Student Name: Mustafa Aydemir Student ID: 1200279 IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -1- Bismillahirrahmanirrahim Essay No. (3) Money and Islam – A Medium of Exchange and a Unit of Account versus Money as a Commodity Everybody is using money. Most of us want it; we work for it and think how to get more of it. Therefore, it is vital to ask what money is, where it comes from, and what money is worth.Economics is an academic discipline that tries to answer those questions. It would be to long and lengthy to discuss about money creation and growth from A-Z but in the following paragraphs the subject matter is elaborated from the conventional as well as the Islamic worldviews. Money in the conventional sense is a commodity people use in exchange for goods and servi ces. Before money was used as a medium of exchange, barter trade was practiced whereby people trade goods and services in exchange for other goods and services.However, barter trade was considered not so practical as weighing, transporting and dividing goods was difficult. It was the lack of transferability and inefficiencies that created the need for better ways of exchange. The concept of money was born. There are different types of money that developed over time, which should be presented briefly. Commodity money is defined as valuable goods, which were used as an underlying for a currency, such as gold, silver, coffee or even tobacco. The biggest advantage of this kind of currency was its portability and easy storage.Another example of commodity money is the U. S. currency before 1971, which was backed by gold (Investopia). Fiat money is the paper money currently circulating in our world that is not convertible in any other type of money. It is used in our daily life where we bu y and sell goods and services. Fiat money is basically not backed by any commodity but by a government that guarantees its value and creates a perception and faith in people that it is worth it. It is simply needed because gold is IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. . doc -2- rare on this planet. The perception created is, that the stronger the economy, the stronger is the value of its money. It is important to understand, that money is valuable because we want it, but we want it only because it can get us a desired product or service. Money is generated by a kind of an uninterrupted collaboration between physical things, our elusive desire for them, and our theoretical trust in what has value. That is why printing fresh money will not enrich a nation. Another type of money is named credit money.Investopia defines credit money as â€Å"Any future monetary claim against an individual that can be used to buy go ods and services†. There are many forms of credit money, such as IOUs, bonds and money market accounts. Virtually any form of financial instrument that cannot be repaid immediately is considered credit money. Economists measure money in M1, M2 and M3 defined as follows. M1 money includes all coins and currency that is physically available, travellers checks, demand deposits, checking accounts that is used to make payments.M2 money is all the money in M1 plus saving accounts, timelinked deposits and non-institutional money-market funds. M3 money is all the money in M2 plus all large time-deposits, liquid assets, institutional money-market funds, and short-term repurchase agreements. M1+M2+M3 together is the total supply of money in an economy, the â€Å"broad money† Money fulfills the three main functions. It is used as a medium of exchange. Furthermore, money is a unit of account that is a numerical unit of measurement for transactions, goods and services.IE1001 Assignm ent in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -3- Lastly, money is used to store value that can be retrieved and used again. In Islam money is not a commodity, which makes all the difference. It is not considered as a commodity that should be used for a price, but rather as a medium of exchange in business transactions Money as a commodity concept is prohibited, because it contradicts Islamic principles that does not recognize money as a tool to make profit. Money is only a medium of exchange, a way of defining the value of a thing; it has no value in itself, and therefore should not be allowed to give rise to more money, via fixed interest payments, simply by being put in a bank or lent to someone else. † (INCEIF Lecture Notes p. 81). Money used as a commodity would presumably divide the society into the poor and the rich, even countries into categories rich and poor economies neglecting their national debt levels. Peop le or nations in need for cash, deficit units, borrow money from people or nations with additional cash, surplus units.They are required to pay a fixed interest payment for their loans. This is riba and is clearly illegal according to Shariah law because it enriches surplus units without any contribution to the real economy. Consequently, people in need for money would take a high risk of becoming even poorer. Compound interest is the big problem that creates money out of thin air. Moreover, the so-called fractional banking system that creates 100. 000 USD out of a 10. 000 USD deposit, 90. 000 USD can be considered fictional money. 1Title: Concept of Money from Islamic Perspective; Class: Islamic Economics [IE1001]; Prof: Dr. Magda Ismail Abdel Mohsin; Institution: INCEIF; Date: 8/16/2006 # Of Pages: 44 IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -4- The rich is getting richer relatively faster than involvement into the real economy, because money creates more money without work required and Many countries fall into the trap of borrowing money from the International Monetary Funds, in particular Muslim states.The weaknesses of money as a commodity, hit those countries with all its evil as borrowed money doubles, multiplies and compounds. Consequently future generations are affected. The current generation is living in exaggerated prosperity on the cost of many future generations. Money is Islam should not be hoarded and kept in the bank savings account. Instead, money is required to circulate within the economy freely to benefit frequently, continuously, proactively and directly the society at large. This leads to the basic principle of interest prohibition and replaces this Riba system with that of Al-Bay.A system that is very different from Riba. The principle paradigm is risk sharing to allow borrowers and lenders to share rewards. The process of wealth accumulation and distribution in the economy is fair and just and fits the spending (infaq) criteria of Al-Bay suggested by the following verses. â€Å"Those who eat Riba (usury) will not stand on the Day of Resurrection except like the standing of a person beaten by Satan leading him to insanity. That is because they say: â€Å"Al-Bay is only like Riba,† whereas Allah has permitted Al-Bay’ and forbidden Riba.So whosoever receives an admonition from his Lord and stops eating Riba shall not be punished for the past; his case is for Allah (to judge); but whoever returns [to Riba], such are the dwellers of the Fire – they will abide therein. † (2-275) The verse (2-261) states the incentive of spending in the way of Allah swt by counting the great reward and the blessing that an individual get from one single transaction: Then the following verse (2-262) puts the conditions for infaq to be accepted, and that is for Infaq not to be followedIE1001 Assignment in Islamic Economics – Shor t Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -5- by Riya (show-off) or by harming anyone or harming the society as a whole. Even if the spending is based on charitable purposes mentioned in verse (2-263), no reminding of it and no harm should be resulted from spending process. Indeed, a kind speech and asking for forgiveness would have better impact. So infaq has to be fully for the sake of Allah swt. (2-264). The consequences of Infaq being not for the sake of Allah are serious as there would be neither Baraka nor growth.Verse (2-265) shapes the objective of spending and is to be for the sake of Allah and his reward so the profile of gain and loss in Infaq is different from the ordinary thinking. In conclusion, the definition of money and the way wealth is accumulated and spend draw a fine line in the distinction of both the conventional versus the Islamic economic system. As money is a medium of exchange, savings does not yield interest income but instead requi re business transactions.Al-Bay as the system of exchange that is based on the concept of spending (Infaq) and risk sharing for any single transaction between parties of exchange. It is notable that Tijarah and Bay are of two different meanings. Tijarah is for the individuals that are setting up the business that has the aspect of long term. It becomes clear that lots of efforts have to be spending in education, elucidation and clarification of the consequences by a simple definition of money. 2 2 This meaning can be clarified by looking verse: (2-282) â€Å"And do not be too weary to write it, whether it is small or arge, for its specified term. That is more just in the sight of Allah and stronger as evidence and more likely to prevent doubt between you, except when it is a Tijarah which you conduct among yourselves. †So we can understand from this verse that Tijarah is among some people that the conduct it among themselves. (61-10) â€Å"O you who have believed, shall I gu ide you to a Tijarah that will save you from a painful punishment? † So, we can sense the longterm involvement in this transaction as Allah swt stated that for in the following 3 verses 11,12 &13. 1 â€Å"It is that you believe in Allah and His Messenger and strive in the cause of Allah with your wealth and your lives. That is best for you, if you should know. †12 â€Å"He will forgive for you your sins and admit you to gardens beneath which rivers flow and pleasant dwellings in gardens of perpetual residence. That is the great attainment. † 13 â€Å"And you will obtain another favor that you love – victory from Allah and an imminent conquest; and give good tidings to the believers. † IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -6-