What does the science of economics study briefly? Economic science involves the study of dynamic, constantly developing economic activities of people. Objects of economic theory
Which of the following is a public good?
1) housing construction for all citizens
2) drug development
3) street lighting
4) computerization of all industries
Explanation.
Public goods are goods that have the following characteristics:
1. a sign of non-exclusion - it is almost impossible to exclude a person from the circle of consumers of a given good;
2. a sign of non-competitiveness in consumption - the consumption of a good by one person does not reduce the possibilities of consumption by another;
3. sign of indivisibility - the benefit cannot be decomposed into separate units.
The correct answer is listed at number 3.
Answer: 3
One of the tasks of economic science is to study
1) the influence of the environment on human performance
2) patterns of interaction between social communities
3) the impact of investment policy on the professional composition of the unemployed
4) factors contributing to social mobility
Explanation.
Answer: 3
Subject area: Economics. Economics and economic science
One of the tasks of economic science is to develop
1) the country's budget for the next year
2) resource-saving technologies
3) ways to overcome social apathy in society
4) methods of using the input-output model
Explanation.
There are two meanings of the concept of economics:
1. Economics is a science that studies the behavior of participants in the process of economic activity.
2. Economy is a way of organizing people’s activities aimed at creating the goods necessary to satisfy their needs.
The second option specifies the task of technological sciences.
In the third - psychology, sociology.
The activity of economics as a science is illustrated in paragraph 4.
The correct answer is listed at number 4.
Answer: 4
Subject area: Economics. Economics and economic science
1) opening of a new supermarket
2) calculation of changes in demand for mobile phones
3) provision of medical services to the population
4) expansion of the network of hairdressing salons
Explanation.
Calculations are a theory, that is, scientific method, everything else is practice.
Answer: 2
Subject area: Economics. Economics and economic science
Economics studies
1) the consequences of the impact of social production on nature
2) territorial distribution of natural resources
3) methods and results economic activity society
4) diverse human needs and ways to satisfy them
Explanation.
Economic science is the science of economy, management, relationships between people, as well as people and environment arising in the process of production, distribution, exchange, consumption of a product, goods, services.
The correct answer is listed at number 3.
Answer: 3
Subject area: Economics. Economics and economic science
Guest 08.06.2012 18:58
Answer 4 is also correct, since human needs arise as a result of a process. The main task of the economy is to satisfy the unlimited possibilities of man in the context of limited resources. For example, the same marketers study the tastes and needs of consumers. If economics did not study human needs, then there would be no one to produce for, and such an economy loses its meaning and any profitability. Fix please.
Guest 24.10.2012 21:56
Firstly, if by economics we mean economic theory, then the correct answer (with a stretch) is -4, and if we talk about applied economics, then the answer is 3. Sorry, but many questions are simply “Clumsy” and the answers to them are too . If the children have to answer them, I will envy them
Anastasia Smirnova (St. Petersburg)
The fact of the matter is that the 4th answer is correct “with a stretch.” Often in the Unified State Examination in social studies you have to mark the “most suitable” option.
Lisa Zidyganova 07.06.2013 09:48
I agree the question is incorrect.
Valentin Ivanovich Kirichenko
I agree with you, but such questions occur in the real exam, so we try to prepare you for them as much as possible.
There are several meanings of the concept “economy”. Which position illustrates economics as an economy?
1) production of goods and services necessary for society
2) explanation of the factors influencing the depreciation of the national currency
3) research into the causes of economic stagnation
4) development of promising models for the development of the service sector
Explanation.
Economy as an economy is a sphere of activity aimed at the production, distribution, exchange and consumption of necessary goods and services.
Correct answer: 1
Answer: 1
Subject area: Economics. Economics and economic science
There are several meanings of the concept “economy”. Which position illustrates economics as a science?
1) study of models of stock market functioning
2) provision of educational services to the population
3) development of mobile communication networks
4) production of a large batch of passenger cars
Explanation.
Economics, as a science, is a set of sciences about the management of the national economy, which have developed into an independent branch of social sciences; it is also a set of knowledge about the economy and related human activities, about the use of various, most often limited, resources in order to meet the vital needs of people and society; about the relationships that arise between people in the process of managing.
Economic reality is the object of economic sciences, which are divided into theoretical and applied.
Theoretical economics is also called economic theory - the study of how people and society choose how to use scarce resources.
Answer: 1
Subject area: Economics. Economics and economic science
Explanation.
Economics is a set of sciences about the management of the national economy, which have developed into an independent branch of social sciences. Economic reality is the object of economic sciences, which are divided into theoretical and applied. Theoretical economics is also called economic theory - the study of how people and society choose how to use scarce resources.
The correct answer is listed at number 2.
Answer: 2
Subject area: Economics. Economics and economic science
There are different meanings of the concept "economy". What does economy illustrate in the meaning of “economy”?
1) provision of medical services to the population
2) analysis of formation factors money supply
3) identifying patterns of demand formation
4) research into the principles of network marketing
Explanation.
The correct answer is listed under number 1.
Answer: 1
Subject area: Economics. Economics and economic science
The concept of “economics” can be considered in two main senses: as a science and as an economy. Economics as "farm" characterizes the position:
1) study of the consequences of the global crisis for the financial market
2) forecasting long-term development of the automotive industry
3) calculation of the consequences of joining the WTO for the country’s domestic market
4) increasing demand for beauty spa services
Explanation.
Economy - as an economy in the broad sense of the word, that is, the totality of all means, objects, things, substances of the material and spiritual world, used by people to ensure living conditions and meet needs. In this sense, the economy should be perceived as a life support system created and used by man, reproducing people’s lives, maintaining and improving living conditions.
The correct answer is listed at number 4.
Answer: 4
Subject area: Economics. Economics and economic science
Economics is viewed in two key senses: “science” and “economy”. What position characterizes economics as a science?
1) development of a network of modern spa salons
2) opening a plant for the production of dairy products
3) study of trends in the development of the foreign exchange market
4) abolition of import customs duties on gadgets
Explanation.
The correct answer is listed at number 3.
Answer: 3
Subject area: Economics. Economics and economic science
The concept of "economy" has several semantic meanings. Which of the following characterizes economics as a science?
1) change of production management
2) production of components for automobiles
3) calculations of production efficiency indicators
4) sale of production technology
Explanation.
Economics has a dual meaning: 1) science 2) management system
The science of economics studies how to satisfy ever-growing needs in conditions of limited resources. The characteristics of science include calculation, forecast, novelty, consistency, and evidence. The correct answer is 3, everything else relates to practical business activities.
The correct answer is indicated under number: 3
Answer: 3
Subject area: Economics. Economics and economic science
The concept “economy” has several meanings. Which of the following characterizes an economy as an economy?
1) study of the consumer market
2) production of components for automobiles
3) production efficiency calculations
4) forecasting fluctuations in pricing policy
Explanation.
Economics has a dual meaning: 1) science 2) management system, economy.
Economy is a practical activity to satisfy people with material resources. Therefore, the correct answer is 2, everything else relates to economics as a science.
The correct answer is indicated under number: 2
Answer: 2
Subject area: Economics. Economics and economic science
Free goods in economic theory- these are blessings
1) the production of which is guaranteed and provided by the state
2) which for consumption do not require the renunciation of other goods and can be consumed in unlimited quantities
3) available in limited quantities and forcing the consumer to make a choice of preferences
4) produced by private manufacturers at your own peril and risk
Explanation.
Free goods are goods that do not require the renunciation of other goods to be consumed and, therefore, can be consumed in unlimited quantities.
The benefits produced by the state and provided to citizens on equal rights are called public.
Available in limited quantities and forcing the consumer to make a choice, these are economic benefits.
The correct answer is listed at number 2.
Answer: 2
Subject area: Economics. Economics and economic science
Economics as a Science
Oikonomia – household management (Greek).
Economy is a set of relations between people in the sphere of production, distribution, exchange and consumption of labor products, corresponding to a given degree of development of society.
Reproduction is a uniquely repeating process of production, as well as distribution, exchange and consumption.
Simple, if production is repeated in the same volume, if in increasing volume, then expanded reproduction.
To satisfy people's needs, economic goods are produced.
The quantity of economic goods is limited and requires the expenditure of resources.
Some benefits are non-economic (air).
Non-economic benefits are available to people in quantities greater than their need.
Non-economic or free or gratuitous.
The source of production of goods is the expenditure of resources.
Production resources are a set of natural, social and spiritual forces that can be used in the process of creating goods and services.
If production resources are involved in the production process, then they are called factors of production.
Resources and factors of production
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Definition |
Definition |
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natural |
natural forces and substances potentially suitable for use in production in the form of earth, water, air, mineral, flora and fauna |
can participate in production due to the natural properties of the land (natural goods are used, as well as through the application of capital of artificial goods to the land) |
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material |
man-made capital goods |
value that generates an income stream |
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financial |
cash, which society is able to allocate for organizing production |
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labor |
the working population of working age, as well as the working population beyond this age |
any intellectual or physical human activity aimed at producing goods |
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entrepreneurship |
the process of combining land, capital and labor in a single economic complex of enterprises for the purpose of producing goods |
National
Subject of economic theory
There are absolute and relative scarcity of resources.
Absolute means that there are not enough resources to satisfy all the needs of all members of society.
Relative is that there are not enough resources to satisfy some selective individual needs.
Limited resources give rise to the problem of choice, therefore the subject of economic theory as a science is the search for ways to effectively use limited resources in the production of goods to maximize satisfaction of people's needs.
The following tasks of economic research are distinguished:
Stable growth in production volumes (economic growth)
Stable price level based on competition
High level of employment
Maintaining foreign economic balance.
Economic problems can be considered at 2 levels, therefore a distinction is made between micro- and macroeconomics.
Microeconomics studies the behavior of households, individual firms, the functioning of markets for specific goods, and the efficiency of resource allocation.
Macroeconomics examines economic processes at the level of the national economy of a country and the interaction of the economies of individual states with each other.
Regardless of whether the analysis is carried out at the micro or macro level, a distinction is made between positive and normative economics.
Positive studies facts related to the real economy, forms scientific ideas arising from actually changing circumstances. It answers the question of what is or will be under certain actions.
Normative allows you to assess the desirability or undesirability of certain economic phenomena and processes. It answers the question of what should be.
Economy is the economy of a particular region, a group of countries, the whole world.
Economics is a scientific discipline that studies any area of the economic life of society.
Economic theory accepts a number of general scientific methods of cognition:
observation and fact-gathering
experiment
analysis - the study of socio-economic phenomena in parts
synthesis – study of socio-economic phenomena in general
historical and logical - socio-economic phenomena should be studied in their historical sequence and logical conclusions should be drawn
induction – from particular facts to a general conclusion
deduction
analogy is a method of cognition that involves the transfer of properties from a known phenomenon or process to unknown ones
scientific abstraction - consists of highlighting the main, typical in the object of study and abstracting from the secondary, random, mixed. It allowed us to formulate the most general concepts that reflect economic reality. They are called economic categories.
Stages and directions of development of economic thought
The origins of economic science should be sought in the teachings of thinkers of the ancient East, ancient Greece and ancient Rome.
Economic theory as a science developed during the formation of capitalism. Its historical name is political economy (the science of the laws of functioning of the social economy within the state). The first economic school appeared - mercantilism (from Italian - merchant, trader). The bourgeoisie is engaged in trade and operations with gold. The teaching of mercantilists boils down to determining the source of society's wealth, which they saw in foreign trade. A. Montchretien in 1615 introduced the term political economy.
Representatives:
Tom Men talks about protectionism (leader of the East India Campaign), protection of domestic producers
John Law, founder of the first financial pyramid
Jean Baptiste Colbert Superintendent of Finance of France
The next school is classical political economy (second half of 17 - mid 19) (as Karl Marx called it).
William Petit declared labor to be the source of wealth, laying the foundations of the labor theory of value.
In France, the school of physiocrats (from Greek: power of nature) is developing within the framework of classical political economy.
Physiocrats delved into the study of production, but mainly in agriculture.
Key ideas:
Economic liberalism (economic freedom)
Exceptional productivity in agriculture
Unified land tax
The further development of economic science is the market school of the classics.
A. Smith 1776 “An Inquiry into the Nature and Causes of the Wealth of a Nation”
David Ricardo "The Beginning of Political Economy and Taxation"
Jean Baptiste Say
Smith revealed the mechanism of the free market, which he called the “invisible hand.” Labor saving theory. Ricardo showed that the basis of the value of goods is labor, which allows the income of all classes to be formed. Labor-intensive theory.
In the mid-19th century, the best achievements of classical political economy were summarized in the works of John Steward Mill and Karl Marx. Marx completed the formation of the labor theory of value.
Marx "Capitalist Critique of Economic Theory"
The main idea of Capital is the theory of surplus value.
Surplus value is part of the cost of goods produced in capitalist enterprises, which is created by the unpaid labor of hired workers in excess of the cost of their labor power and is appropriated by the capitalist.
Marx draws a conclusion about the exploitation of labor by capital.
Like Smith, Marx considered the market a powerful instrument for the accumulation of capital, but unlike Smith, he believed that this process would end in an exacerbation class struggle and the death of capitalism, since its contradictions are so serious that the market mechanism cannot cope with them. Marx's critics argue that capitalism has not collapsed, the working class has not become impoverished, and what Marx predicted has not been confirmed. Marx's supporters believe that capitalism, which he studied and whose death he predicted, collapsed during the Great Depression (29-33), and the current market economy- a different model, which is a new stage predicted by Marx on the path to a society of positive humanism.
In the 70s of the 19th century, classical political economics was replaced by marginalism (French - marginal, additional).
Heinrich Hermann Gossen is one of the founders of marginalism.
The first stage of the development of marginalism:
Its representatives:
William Staley Jevans (Anglo-American school)
Carl Menger (Austrian school)
Lyon Walras (Lausanne school)
They believed that economic analysis should begin with a study of people's needs, with a search for a criterion for the usefulness of goods at the psychological level.
Second phase:
Neoclassical school (late 19)
Alfred Marshall (English economist)
"Principles of Economics" 1890
To emphasize social neutrality in his research, Marshall proposed abandoning the term positive economics in favor of economics or economic theory.
Central to Marshall's research is the problem of free pricing in the market. Moreover, the reproach is made at the micro level. Representatives of marginalism actively use mathematical research methods.
There are 3 main directions of modern economic science:
institutionalism or institutional sociological direction
Thorsten Veblen (American)
Veblen's followers, to one degree or another, share his following basic ideas:
Economic theory How the science (8)
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They broadly interpret the subject of economic theory, trying to take into account the entire complex of conditions and factors influencing economic life.
These factors include various social institutions, traditional customs, norms, laws, trade unions, corporations, states, etc.
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Who might care about economic problems? Probably everyone involved in economic activity. Active participants in economic activity are:
Those who produce goods and services: workers in factories and factories, power plants and construction organizations, restaurants and hospitals, theaters and television, transport...
Those who are engaged in trade in supermarkets and tents, at wholesale centers and retail chains...
Those who are employed in the monetary circulation buffer: employees of banks, exchange offices, currency exchanges...
State: it sets the “rules of the game” and collects taxes, finances science and education, the army and the police, pays pensions and benefits...
Those who consume goods and services: this is each of us, including you, dear readers.
All of these processes are subject to certain laws. In order to make competent decisions in everyday practice, it is necessary to study these laws and principles of behavior of participants in economic activity.
1. Economics: science and economy
Translated from Greek, the word "economics" literally means "the art of housekeeping." IN modern world the farm is conducted and managed not only within a family or city, but also within a region, country, and the whole world. It is organized not only on a territorial basis, but also on a production basis, within enterprises, industries, corporations, many of which are multinational and influence the lives of people in different countries.
In modern Russian, this word has two meanings: “economics as the economy of the country” and “economics as a scientific discipline, economic theory.”
The economy as an economy includes resources, enterprises, households, the legislative system, the structure of government bodies, the traditional way of life that has developed in society, and forms of ownership.
Economics as a science studies economic relations, laws and categories of production, distribution, exchange and consumption of material goods. We will be able to formulate a more complete definition of economics as a science when we find out what it is the main problem economy.
Economics studies economic relations at different levels.
Microeconomics studies the behavior of individual consumers, individual firms, as well as industry and regional markets, factor markets, and the problem of external effects. In this case, the scale of the object of study can be small and very large. For example, the objects of study of microeconomics are the markets for bicycles, mobile phones and MP3 players, the local fish market and the wheat market, the land market, the capital market, the automobile industry and electricity market, etc.
Micro- and macroeconomics are interconnected. Conclusions that can be drawn as a result of microeconomic analysis are used in macroeconomics, and vice versa, government decisions at the macroeconomic level directly affect the situation in every family and in every enterprise.
2. Needs and benefits
From the social studies course, you remember that each of us has needs: for food and clothing, for study and entertainment, etc.
Needs express the need to own something to carry out life activities and personal development. First of all, the needs that are a condition of life must be satisfied - these are the needs for air, water, food, clothing, housing. Conventionally, they are called primary. A special place in a person’s life is occupied by spiritual needs, for example: the need to read books, listen to music, watch films, go to theaters, travel. Social needs are the needs for friendship, love, respect, self-esteem. People feel the need for education, for studying nature and society. Each person individually determines which needs are a priority for him. For some of you, the priority is computer games or fashionable clothes, for others - study, career, and some will name friendship, love...
The nature of the needs depends on many circumstances: climate, customs, religious beliefs, standard of living in the country, and the degree of development of production. Needs develop and change under the influence of information. New information creates new needs and capabilities.
vues a qualitative change in existing needs. An important role in shaping our needs is played by advertising, which informs about new products and their qualities. The needs are growing endlessly.
Remember a situation where information influenced the range of your needs.
Needs can be satisfied with the help of goods. Goods are means that satisfy needs. There are free and economic benefits.
Free goods are not limited and are available to everyone who needs them: air, sunlight, rainwater, spring water, wind energy, berries in the forest, fish in the sea, etc.
Most benefits are limited and paid. These are economic benefits. It is with this type of goods that economic theory deals. Economic benefits are food products, clothing, housing, furniture, etc. People consume economic benefits in the form of goods and services.
A product is a product produced for consumption or exchange, for example ice cream, a jacket, a telephone, a computer, a car, an apartment.
A service is an activity that has a certain value, for example education, medical care, cinema, theater, transport services.
Goods that complement each other are called complementary goods, or complements. For example: computer - printer - scanner - speakers.
Goods that replace each other are called substitutes. For example: jacket - coat; bus - taxi.
The classification of goods can be presented more clearly using a diagram.
3. Factors of production
To create economic benefits, resources are needed: labor, natural, material.
What resources are needed to bake a pie?
You will probably name flour, butter, sugar, milk, as well as a stove, dishes, and water. If you think about it, you will remember the cook and the cook, electricity, the kitchen in which they will bake the pie, even the time required for baking, and a dozen other necessary items.
Economists group all the resources needed to produce any good into four groups of so-called factors of production. Factors of production are resources that are directly involved in the production of goods and services. These are labor, land, capital and entrepreneurship.
Labor is the direct application of the physical and mental abilities of people in the process of creating economic wealth. The magnitude of this factor in the country as a whole is determined by the number of people of working age, the level of education of people, their qualifications, and motivation to work. The owner of the labor resource receives income called wages.
Labor resources are people of any profession: workers, engineers, scientists, teachers, doctors, etc. Even an unemployed person is a labor resource because he is ready to work. Children, students, pensioners, housewives and other groups of the population are not considered labor resources. This issue will be discussed in more detail in the topic “Unemployment”.
O Is a robot used in production a labor resource? a dog guarding the factory territory?
Land is the conventional name for all types of natural resources, including plots of land, as well as forests, water resources of rivers, seas, oceans, and mineral deposits. The owner of natural resources receives income called rent.
Capital is the means of production created by man: buildings, structures, equipment, transport, materials, semi-finished products. The income of the owner of capital is interest.
In order not to be mistaken in the classification of certain resources, it should be borne in mind that land resources are created by nature, and capital resources are created by man; Capital resources contain past human labor. For example, oil and gasoline: which of them is a land resource and which is a capital resource? Oil is a natural resource, land, and gasoline is capital,
produced by man. Water in a lake and water in a tap: a natural resource is water in a lake, a capital resource is tap water. Fish in the sea is a natural resource, fish in a cannery is capital.
O Is it true that flour, a saucepan, a kitchen, electricity -
Is this all capital?
Physical, or real, capital, which is a factor of production, should be distinguished from money capital. Money is a means of purchasing factors of production, but it is not a factor of production.
The fourth factor of production - entrepreneurship - connects the above three factors (labor, land, capital). Entrepreneurship is proactive, innovative activity, readiness to do business under risk conditions. This is the entrepreneur himself, as well as his ideas, innovations, know-how, ability to make decisions and take risks. Conventionally, time is also included in this factor.
The entrepreneur's income is profit. By investing in the purchase of factors of production, an entrepreneur has no guarantee that the business will be successful and profitable. He takes a risk by opening his own company. An entrepreneur's profit is a payment not only for entrepreneurship, but also for risk.
Some authors also identify information as an independent factor of production. However, information itself does not participate in the production process; it is part of the factors of production. Thus, hired workers have certain information; information about technological processes is an integral part of real, physical capital; entrepreneurs use business information, ideas, innovations, know-how. Regardless of the attribution of information to one or another group of production factors, its importance in the economy is great. As British Prime Minister B. Disraeli said, “in life, as a rule, those who have the best information succeed more than others.”
О Distribute among groups of factors of production the resources needed to bake the cake.
In addition to the main four factors of production, science, general culture, legal culture, and the state of morality also play a major role in the economy.
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4. Limited resources
Speaking at the beginning of this topic about needs, we noted that needs are growing without limit. In contrast, factors of production are limited. The available resources are always insufficient compared to the unlimited needs that must be satisfied with the help of these resources. The problem of limitations cannot be solved in principle. This problem is inherent in any society, regardless of the degree of its development and the level of well-being of its citizens, both in the past and in the future; Constantly growing needs outpace the resources available to society. The problem of limited resources is the main problem of the economy.
Now we can give a more complete definition of economics as a science.
Economics is a science that deals with various areas of economic activity and studies how, with the help of limited resources, to most fully satisfy the unlimited needs of people.
Goods that satisfy needs can be free or limited.
To produce economic goods, resources are required: labor, land, capital, entrepreneurship.
The main problem of economics: needs are unlimited, but available resources are limited.
Basic Concepts
Economy
Microeconomics
Macroeconomics
Needs
Free and economic goods Complementary goods Substitutes Factors of production Limited resources
Questions and tasks
1. What does micro- and macroeconomics study?
2. What factors influence human needs?
3. Is it true that economic benefits are divided into free and limited?
4. List the factors of production. What is the income of the owner of each factor of production called?
5. What is the main problem of the economy?
6. Can the problem of scarcity be solved if people reduce their needs? if scientific and technological progress will significantly increase the production of economic goods?
7. “There is nothing more practical than a good theory” (R. Kirchoff). Explain the meaning of this statement.
Subject and method of economic theory. Micro- and Macro-economics.
Economy
Hence subject of economic theory is production relations between people, which include relations of production, distribution of volume and consumption of economic goods and services.
Basic method research used by economic theory - modeling of economic phenomena and processes. This method led to other methods.
Method of scientific abstraction - Distraction in the process of cognition from external phenomena, non-economic aspects, highlighting the deeper essence of an object or economic phenomenon
Functional analysis method - The function-argument relationship is used to conduct economic analysis and draw conclusions
Graphic image method - This method allows you to assess the relationship between various economic indicators and their behavior under the influence of the economic situation being studied.
Method comparative analysis - Comparison of specific and general indicators in order to identify best result
Method of Economic-mathematical modeling - Description of economic phenomena in a formalized language using mathematical symbols and algorithms
Inductive and deductive methods - The inductive method is the derivation of provisions, theories and conclusions from facts - from facts to theory. When using the deductive method, economists rely on random observations, logic and intuition, on the basis of which a preliminary hypothesis is formed. Deduction and induction are complementary research methods.
Method of positive and normative analysis - The positive method examines the actual state of the economy; the normative method defines specific conditions and economic aspects that are desirable or undesirable in society
Practical activities - Carrying out practical activities to confirm the proposed economic hypothesis
Depending on the object of study, economics is divided into:
Microeconomics- a section of economic theory that studies the behavior of individual economic entities (firms, individual enterprises, institutions).
Macroeconomics- a branch of economic theory that studies the functioning of the country's economy as a whole.
Production and its main resources and factors. The concept of industrial and social infrastructure. Social production and social wealth.
Production - the process of human influence on the substances and forces of nature in order to create products and services necessary to satisfy human needs.
Resources- this is the totality of all material goods and services used by a person to produce the products he needs.
Economic resources (Factors of production) include four groups:
Natural resources (Earth)
minerals
water resources
Natural factor production reflects the influence of natural conditions on production processes, the use in production of natural sources of raw materials and energy, minerals, land and water resources, air basin, natural flora and fauna.
Investment resources(capital)
structures
equipment
Factor "capital" represents the means of production involved in production and directly involved in it.
Labor resources
Work- the totality of all physical and mental abilities of people used in the production process.
Labor factor represented in the production process by the labor of the workers involved in it.
Entrepreneurial talent
Entrepreneurial ability- ability to organize production, make decisions on business management; be an innovator.
Factor scientific and technical level of production expresses the degree of technical and technological perfection of production.
Production infrastructure- infrastructure that ensures material production: railways and highways, water supply, sewerage, etc. In a broad sense, the production infrastructure includes both enterprise management and finance, i.e. everything that is necessary for the production process, but is not technologically included in it.
Social infrastructure - a set of industries and enterprises that functionally ensure the normal functioning of the population. This includes: housing, its construction, social and cultural facilities.
Social production - the process of creating material goods, including consumer goods necessary for the existence of society. Production is social due to the division of labor between members of society. Production is organized to meet the needs of people. The production of consumer goods is carried out by workers using the means of production. consists of three main elements: - workers; - means of production; - consumer goods. The degree of socialization of production elements (belonging to society, not to private individuals) is a criterion for the progressiveness of a socio-economic formation.
Public Wealth acts as a result of the production process. This is the accumulated past labor of previous generations embodied in material goods.
Product profitability.
Labor productivity is an indicator of labor efficiency, which is determined by the quantity or volume of products produced per unit of time per employee.
Or, labor productivity in the general case is how many products are produced per unit of time per person.
Properties of Oligopoly
Domination of the market by a small number of oligopolistic sellers
Very high barriers to entry into the industry
The decision of each firm affects the situation on the market, and at the same time depends on the decisions of other firms.
A small number of substitute products for oligopolistic products
Monopolistic competition- type of market structure of imperfect competition. This is a common type of market that is closest to perfect competition.
The most difficult form to study industry structures. Much here depends on specific details characterizing the manufacturer's product and development strategy, which are almost impossible to predict, as well as on the nature of the strategic choices available to firms in this category.
General economic equilibrium is a state of the national economy in which equality of supply and demand is simultaneously ensured in all markets, and none of these economic agents is interested in changing the volume of their purchases and sales.
The situation of market equilibrium can be represented graphically by combining the demand and supply graphs on the same coordinate axes:
Point B in the figure is called the equilibrium point of supply and demand, and its projections on the abscissa and ordinate axes are, respectively, the points of equilibrium production volume (Q0) and equilibrium price (P0). So, a situation of equilibrium in the market means that as many goods are produced as the buyer requires; such equilibrium is an expression of the maximum efficiency of a market economy.
Regulation of the equilibrium price occurs in two main directions:
First direction: The market price is set at a level significantly higher than the equilibrium point. In this case, the supply of goods exceeds their demand, and therefore a zone of overproduction of goods is formed on the market. In such conditions, competition is established among sellers. First, some of them, and then all of them, reduce the price, which begins to move towards the equilibrium point. After a massive price reduction, products are sold out, and the zone of overproduction disappears.
Second direction: The market price falls below the equilibrium point. Then demand exceeds supply and, naturally, a zone of shortage of goods arises. In this case, competition among buyers intensifies. Individuals, and then everyone, raise the price and it moves towards the equilibrium price.
21. Elasticity of supply and demand. Price elasticity of demand.
ELASTICITY OF DEMAND AND SUPPLY- sensitivity of the volume of demand and supply of goods to changes in prices for these goods. Elasticity is measured by the relative (in percentage, shares) change in the quantity of supply and demand when the price changes (usually increases) by 1%.
Elasticity of demand allows you to almost accurately measure the degree to which a buyer will respond to changes in prices, income levels, or other factors. Calculated through the elasticity coefficient. There are price elasticity of demand, income elasticity of demand, and cross price elasticity of 2 goods.
1) Price elasticity of demand shows by what percentage the quantity demanded will change when the price changes by 1%.
2) Income elasticity of demand shows by what percentage the quantity of demand will change when income changes by 1%.
3) Cross elasticity of demand is the ratio of the percentage change in demand for one product to the percentage change in the price of some other product. A positive value means that these goods are interchangeable (substitutes), negative meaning shows that they are complementary (complements)
Elasticity of supply- the degree of change in the quantity of goods and services offered in response to changes in their price. The process of increasing elasticity of supply in the long and short term is revealed through the concepts of instantaneous, short-term and long-term equilibrium.
The elasticity of supply depends on: 1) features of the production process (allows the manufacturer to expand production of a product when its price increases or switch to the production of another product when prices decrease); 2) time factor (the manufacturer is not able to quickly respond to price changes on the market); 3) depends also on the (in)ability of the given product for long-term storage.
22. What is capital? Modern definitions of capital.
Capital-a set of goods, property, assets used to generate profit and wealth.
Capital is created through savings, which increase the possibility of consumption in future periods due to a relative reduction in current consumption. In this regard, individuals who save compare current consumption with future consumption.
Distinguish two basic forms of capital:
physical capital, which represents the stock production resources involved in the production of various goods; it includes machines, tools, buildings, structures, vehicles, stocks of raw materials and semi-finished products;
human capital - capital in the form of mental abilities acquired through training or education or through practical experience.
In modern economic science capital is considered as an abstract productive force, as a source of interest. This means recognizing the fact that any element of wealth that brings its owner a regular income over a long period of time can be considered as capital
Economics as a science and economics as an economy. What does economics study and what are its functions?
Economic theory (Economics) is the science of choosing the most effective ways satisfying the limitless needs of people by rational use limited resources.
economy - like science, a body of knowledge about the economy and related human activities, about the use of various resources in order to meet the vital needs of people and society; about the relationships that arise between people in the process of managing.
economy - like a farm is the totality of all means, objects, things, substances of the material and spiritual world used by people to ensure living conditions and satisfy needs. In this sense, the economy should be perceived as a life support system created and used by man, reproducing people’s lives, maintaining and improving living conditions.
Economics studies the economic relationships between people.
Functions of the economy:
Cognitive- theoretically explains how the economy functions, what are the causes, nature, consequences of economic processes.
Prognostic- consists in the formation of scientific foundations for forecasting the prospects of scientific, technical and social economic development
Practical- based on positive knowledge, gives recommendations, offers “recipes” for action, explains what the economy should be like.
Critical allows you to identify the achievements and shortcomings of various forms of production.
Educational is associated with the formation of a certain worldview, views on various economic issues affecting the interests of the entire society.
2. The main stages (genesis) of economic theory. What is "Economics".
The history of economic theory includes 8 economic schools, stages of economic development.
Mercantilism ( 16-17 centuries ) - the essence of the doctrine comes down to determining the source of wealth. Wealth was identified with money than more money in the state, the better the economy is developed.
Distinguish early ( increasing monetary wealth by legislation ) and late (it is necessary to sell more than buy) mercantilism.
Physiocrats(18th century) - were representatives of the interests of large landowners. We studied the influence of natural phenomena on the economy of society. The source of wealth is labor only in agriculture.
Classical political economy ( end of 18th - 1st half of 19th centuries ) - Main idea-idea liberalism , minimal government intervention in the economy, market self-regulation based on free prices. WITH the cost and price of a product depends on the amount of labor spent on its production; Profit is the result of the unpaid labor of the worker
Marxism ( 2nd half 19th - 20th centuries ) - (the theory of scientific socialism (communism)) is represented by the principles: public ownership of the means of production, lack of exploitation of human labor, equal pay for equal work, universal and full employment. An attempt by people to build a society without private property, a state-type economy regulated from the center. main idea In the process of labor, a person alienates the results of his labor, as a result of which the value characteristic sharply decreases.
Marginalism ( second half of the 19th century )- the use of extreme extreme values or states that characterize not the essence of phenomena, but their change in connection with changes in other phenomena. The cost of any good or product depends on its marginal utility for the consumer. I don't know if it's necessary or not.
Neoclassical economic theory ( late 19th - early 21st centuries ) - The economic economy is considered as a set of microeconomic agents who want to obtain maximum utility at minimum costs.
Keynesianism(20th - early 21st centuries) - serves the most important theoretical justification for state by increasing or decreasing demand through changes in the cash and non-cash money supply. With the help of such regulation, it is possible to influence inflation, employment, eliminate unevenness in the demand and supply of goods, and suppress economic crises.
Institutionalism(20th - early 21st centuries) - Study of all economic phenomena from the perspective of political, methodological and legal issues. Characterized by a departure from the absolutization of technical factors, greater attention to the person, social problems. Man is the main economic resource.
Monetarism(20th - early 21st centuries) - The economy is capable of self-regulation and the main task of the state is to regulate cash flows
ECONOMICS - a branch of economic science that reveals the laws of business, management methods, at the macro and micro levels, economic policy etc. the term economics is replacing the term political economy. This is an economic theory, a part of economic science that studies theoretical basis economic processes.
Economics is a multifaceted concept, and it is quite difficult to identify an unambiguous definition of this phenomenon. For this reason, there are a lot of interpretations, and the concept of economics must be considered from different angles.
Economics: concept
One of the most common definitions of economics is “the economic activity of people.” In a narrow sense, we can talk about the economy as the economy of an enterprise, the economy of a certain industry, or the economy of a country.
A broader concept refers to the economy as the country’s life support system, which solves the problems of distribution, production and consumption of various material goods and services. The latter are necessary to meet the needs of each individual, as well as for individual enterprises and the entire state.
Economy is spoken of as the foundation of any society. It is this phenomenon that contributes to the constant renewal production processes, which must be continuously repeated in order for humanity to continue to exist.
Economics and what it studies
Economic science is a branch of knowledge that is devoted to the study of rules that make it possible to rationalize the behavior of an economic entity. This is necessary to solve the economic problems of a person, a company or an entire state.
Since economic thinking is inherent only in humans, economics can be called the same age as humanity. Already in the first laws of the ancient East, the rules of economic behavior were recorded. Even in the Bible there are certain economic commandments.
As a separate science, economics arose in ancient society and was considered as the science of housekeeping. Economics had already become an independent discipline by the 17th century, which was associated with the emergence of the capitalist system.
Then a significant need for more expanded economic knowledge arose. And with the publication of Marshall’s book “Principles of Economics,” the name “economics” finds its full approval in most developed countries.
First of all, economics studies economic relations between people. But it is difficult to unambiguously define the subject of economic science, since it is a developing science that has been closely connected with other sciences for a long time.
Economic science includes the study of economic theories and basic economic processes, economic categories and concepts, models that reflect reality to the maximum extent possible.
This science includes a detailed study of the processes of microeconomics and macroeconomics.
Economic activity
Economic activity refers to a set of actions at various levels of management that are aimed at meeting the needs of the people of society.
Such activities are carried out through the constant production and exchange of services and goods between people. This is one of the basic terms in economics.