Replying to Avatar Muslim Bitcoiner

Price controls always bring about 2 consequences:

1. Increased demand for the commodity, since the price is lower

2. Reducing the supply of the commodity, since people buy more of it, and it discourages production of that commodity due to lower profits

Quote from Economics in One Lesson 👇
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Islamic Economy 2y ago

On point.

It's fascinating concept.

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Muslim Bitcoiner 2y ago

And it's even more fascinating when you take into account the hadith on prohibiting price fixing. So much wisdom from that hadith