The main difference between risk management in Islamic finance and the conventional practice of risk management is that the former is based on Sharia laws while the latter is based on checking credit history.
<h3>What is Risk Management?</h3>
This refers to the identification and control of threats to the long-term goals of a company.
Hence, we can note that in Islamic finance, there is a strict following of the provisions of finance in Islam which are the Sharia laws and they try not to engage in usury but the conventional practice of risk management makes use of modern methods like credit history and financial risk.
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Answer:
Information collected from organizations like government agencies and DMOs is called Administrative Data.
Explanation:
Administrative data is data that contains holistic information about a wide range of the population. It is usually collected when individuals or corporate persons apply to access a government service such as Drivers License, National Identification, Government Funding, etc.
The following are examples of administrative data:
- Border records
- Pensions Records
- Tax Records
- Birth, Death and Health records, etc
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Answer:
the price elasticity of demand is -0.77
Explanation:
The computation of the price elasticity of demand is as follows;
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
Here,
Change in quantity demanded is
= Q2 - Q1
= 14 - 12
= 2
And, average of quantity demanded is
= ( 14 + 12) ÷ 2
= 13
Change in price is
= P2 - P1
= $180 - $220
= -$40
And, average of price is
= ($180 + $220 ) ÷ 2
= 200
So, after solving this, the price elasticity of demand is -0.77
The successful completion of projects and business activities is essential to a firm competitive position
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B. Liability insurance covers damage that you cause, and collision insurance covers damage done to your vehicle