Analisis Elastisitas Harga dan Pendapatan dalam Perspektif Ekonomi Konvensional dan Mikro Islam

Zohya Azzura; Eka Christina Waruwu; Reni Ria Armayani Hasibuan

doi:10.59841/ignite.v3i3.2953

Authors

Zohya Azzura Universitas Islam Negeri Sumatera Utara Medan
Eka Christina Waruwu Universitas Islam Negeri Sumatera Utara Medan
Reni Ria Armayani Hasibuan Universitas Islam Negeri Sumatera Utara Medan

DOI:

https://doi.org/10.59841/ignite.v3i3.2953

Keywords:

Price elasticity, income elasticity, conventional economics, Islamic microeconomics, sustainable consumption

Abstract

This study aims to analyze price elasticity and income elasticity of products by integrating perspectives from conventional economics and Islamic microeconomics. In conventional economics, price and income elasticity are used to understand consumer demand sensitivity to changes in price and income. Meanwhile, Islamic microeconomics adds an ethical dimension, such as the prohibition of israf (wastefulness) and the importance of balanced consumption. The findings indicate that elasticity analysis is crucial not only for business strategies and economic policies but also must incorporate Islamic economic principles to promote sustainable and ethical consumption. This study suggests that integrating Islamic microeconomic values in elasticity analysis can enrich the understanding of consumer behavior and foster more inclusive economic policies.

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