The IE system considers the best practice of the centralised & decentralised decision-making processes. The Shari'ah governs the market in order to ensure harmonious interaction between human and the Creators; human & human; and human & the universe. Disadvantages of the market i) the market distributes income based on functional distribution only ii) the existence of market failures, i.e misallocation of resources iii) the market overlooks the side effect of econ activities eg, negative externalities iv) the market is limited in producing g & s based on effective DD and SS eg, public goods v) the market deals poorly between present & future allocation of resources eg, deforestation vi) the market economy suffers from business fluctuation i.e market instability necessitates supervision Market in Islam the difference From Islamic perspective, market is an important of human life IE prefers the market as a mechanism to allocate resources Refer to hadith "The people said: O' Messenger of Allah, prices have shot up, so fix prices for the us. Thereupon the Prophet (SAW) said: Allah is the ONE who fixes prices, who withholds, gives lavishly and provides, and I hope that I meet Allah, none of you will have any claim on