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Gold is respected throughout the world for its value. In the early years, golds were own by people to portray their wealth and rank to the society. Early civilization equated golds with gods and rulers and was sought in their name and dedicated to their glorification. However, as time past by, people have continued to own gold for other several reasons. Reasons why people owns gold : As jewelry. Gold as a medium of exchange and money. Uses of gold in electronics. Uses of gold in dentistry. Uses of gold in aerospace. Demand Elasticity of Gold  Gold is very price sensitive good in terms of demand. This means that if the price of gold increases, the demand of consumers for gold decreases and vise versa. Thus we can say that gold demand is elastic.When we say the gold is elastic, a small change in gold price cause a huge change in its demand from consumers, which also affects the total revenue. Nature of Demand Gold is a luxury good and not everyone can afford it....

Unemployment Unemployment or joblessness occurs when those   individuals actively seeking jobs remain unhired within the past four weeks. Unemployment is expressed as a percentage of the total available work force. The level of unemployment varies with economic conditions and other circumstances. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate. In a 2011 news story, Business Week reported, "More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies and half of developing countries are experiencing a slowdown in employment growth"   Unemployment from Islamic Perspective According to Qaradawi, unemploymet can be divided into two, namely:  Jabariyah Unemployment, where...

Definition Economics is a social science concerned with the production, distribution and consumption of goods and services. Basically, it studies about how individual, firms and government make their choices to allocate the available resources to satisfy their wants and needs. This choices are important and are made mainly because to achieve a certain objectives to maximize output.  Lionel Robbins  " Economics  is a science which studies human behavior as a relationship between ends and scarce  means  which have alternative uses." Alfred Marshall   "Political  Economy  or  Economics  is a study of mankind in the ordinary business of life. It  examines that part of individual & social action which is most closely connected with the attainment & with the use of material requisites of well-being". Adam Smith  '' Economics  as the study of the nature and causes of nations' wealth or simply as the stud...