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2 Question: Market economy and its characteristic features.

Subjects of the market economy.

Economic resources in a market economy

Classical market economythere was existed in the countries developed from the XVIII century to the first decades of the XX century. This stage of the market economy is characterized by such signs as:

Availability private property on economic resources;

Free competition, providing unhindered entry into the market, overflowing capital from one industry in the economy to another;

The presence of many independent manufacturers, self-decisive, which products are produced, in what quantity, through which technologies and to implement them;

Availability of many independent consumers who accept independent selection: what products to buy and in what producers;

Personal freedom of all market participants (including labor), which allows an entrepreneur to determine the scope of the business, and the employee is free to move in the labor market;

The spontaneous nature of the price establishment under the influence of supply and demand;

Equivalent exchange in value;

Orientation of entrepreneurs to maximize profits, forcing them to save resources, implement new technique, maintain labor in good condition.

Thus, the classical market economy is spontaneously developing on the basis of private property and does not provide for state regulation of the economy. The classic market economy ensured the essential development of equipment and the person in the first stages of market development. However, at the beginning of the 20th century, such an economic mechanism no longer matched new needs.

Under the market economy Usually understand such an economy in which economic decisions are made mainly by a decentralized way. The functioning of the market economy is carried out mainly through the market. There are many market definitions, but they all reduce the fact that it is a form of relationships, connections between individual independent decisions by economic entities.

For the functioning of the market, it is necessary, first of all, the presence and implementation of diverse forms of ownership (private, municipal, cooperative, state, etc.). An important condition is to create a market infrastructure. The latter includes three main elements: the market of goods and services, the market of factors of production, financial market.

Market of goods and services requires creating and functioning:

1) commodity exchanges;

2) wholesale and retail;

3) marketing services.

Market factors production Ensures buy-selling such factors of production as land, labor, capital. Underground is understood not only directly the earth itself, which is used by farmers and entrepreneurs, but also produced from the depths of the Earth or the raw materials "removed" from the ground, for example, cotton. Work is interpreted as the services of all working, including services of unqualified workers, entrepreneurs, managers and managers of firms. Such a factor of production as capital is the means of production, buildings, structures, machine tools, equipment, as well as the funds necessary to acquire means of production. Entrepreneurial talent, which has a person organizing the production of goods and services, which makes decisions, which products and services to produce, and also owning a special talent - take the risk of themselves, to introduce new techniques in a timely manner, technology, innovative Methods Organizations of production, new products.

Financial market represents the form of movement money. The financial market is the sector of relations between sellers and customers of monetary resources and investment values. It includes the monetary market and capital market. In the money market there is a movement short-term obligations, and in the capital market - medium and long-term obligations. Goods in the financial market are internal, national currency, securities, bank loans, foreign currency, gold.

All these three market are organically interrelated and affect each other.

These main three types of markets are divided into various submarkets, market segments. The market is generally characterized by a rich and complex structure. It is classified according to various categories: 1) on the economic purpose of market relations (consumer goods and services market, industrial goods market, the market of intermediate goods, the market know-how, commodity market, labor market, market valuable papers, shadow market, recycled market, etc.);

2) by geographical position (local, national, world);

3) according to the degree of competition limit (monopolistic, oligopolistic, monoponistic, free, mixed, etc.);

4) by industry (automobile, computer, petroleum, etc.);

5) by the nature of sales (wholesale, retail).

The market is a scene on which a play is played on the interaction of all those who make economic decisions.

The market provides both bringing decisions of individual economic entities to each other and the linking of these solutions through the price system and competition. Prices are a signal that gives information about the market conditions for both consumers and manufacturers.

An important role in the market mechanism is played by competition. It restrains private interests, directs them to the production of socially necessary goods. Competition leads to the fact that limited resources are used more fully and efficiently.

The benefits of the market mechanism are economists:

Effective resource allocation. The market sends resources for the production of goods to which demand is made;

Flexibility, high adaptability to changing conditions;

Optimal use of RTR results. In an effort to get the highest possible profit, commodity producers go to risk, develop new products, introduced the latest technology;

Freedom of choice and actions of consumers and entrepreneurs;

The ability to meet the diverse needs, improving the quality of goods and services.

But the market mechanism is inherent and limited, which:

Does not contribute to the preservation of non-reproducible resources;

Does not protect ambient.

Does not create incentives for the production of goods and services of collective use (roads, dam public transport, education, health care, etc.);

Does not guarantee the rights to work and income, does not ensure the redistribution of income, the market mechanism reproduces substantial inequality;

Not focused on the production of socially necessary goods;

The decision of the problems listed above takes on the state.

Modern market economy industrial developed countries It is characterized, firstly, the saturation of goods in mass production, a strict focus on meeting the needs of certain groups of buyers.

Secondly, it is inherent flexible, adaptive production capable of responding with the most difficult demands of consumers.

Thirdly, the target functions of firms are changing. Although the profit continues to serve as the main incentive in business, the firm for maintaining competitiveness is interested: in the expansion of the market, product modifications, product quality improvement and cost reduction.

Fourth, there is a change in the forms of entrepreneurial activity. Starting from the mid-70s, along with large corporations, important role In the market economy of the leading countries of the West began to play a small business. This organizational structure It turned out to be quite flexible, mobile and sensitive to the rapid change in consumer requests, on the need to introduce new technological capabilities, to the widespread use of the creative potential of a separate personality. Small business turned into a weighty economic power Along with large corporations, state and trade unions.

Fifth, in the modern market economy there is becoming a new type labor relationshipinvolving the participation of employees in the management and ownership of the company.

Sixth, modern market economies inherent energy and material-saving nature.

In-seventh, there is a process of formation of the "gentle" economy. More than 60% of the cost of US GDP is the cost of services.

The market economy allocate the following main economic (business) Subjects.

The household - this is economic unit As part of one or more persons, which 1) independently makes decisions, 2) is the owner of any factor of production, 3) seeks to maximize their needs, to maximize utility.

Firm - this is an economic unit that

1) independently makes decisions,

2) seeks to maximize profits,

3) uses production factors for the manufacture and sale of products to other firms, households and the state.

Under g. power Understand all government agencies with legal and political power to implement if necessary to control economic entities and on the market to achieve social goals.

Households and firms form a private sector, and the state is state. All of these basic business entities closely cooperate in the market for products and services, market factors and financial market.

Economic resources limited and this limitation generates fundamental economic problem Choice: What goods and services should produce a society, having a limited number of land, labor and capital?

Characteristics of the economy system

After the allocation of a person from the world of wildlife began becoming it as a social being. The development of consciousness occurred in the process labor activity. It is thanks to work that a person was able to satisfy his most important life needs.

At first, human needs were quite simple - food needs, clothes, housing. And the work activity was primitive - gathering, hunting, fishing. But over time, the needs of man increased. Labor activity became increasingly difficult. It was involved in more and more resources, an increasing number of people were involved. The man was forced to coordinate his actions with other people.

Based on the work of the economic system based on labor activity. BUT economic systemIn turn, defined the features of social relations, the social system.

Definition 1.

The economic system is called a system of relationships arising in the process of production activities between business entities due to the use of various resources with regard to regulatory framework societies, on the basis of the right of ownership and participation in the management of production and distribution of the manufactured product, profits them material benefits.

To date, scientists tend to distinguish the following types of economic systems:

• traditional economic system;
• market economic system;
• administrative and team or planned economic system;
• mixed economic system.

The key issues of their allocation are precisely the relationship of property rights and management. Under the traditional economic system, they understand the system arising in the conditions of community ownership. She kept its existence to this day. The management and distribution of material goods in it is carried out on the basis of customs and traditions in society.

Planned economy is based on state owned and the monopoly state law in the management and distribution of material goods and the product produced. It arose as a result of social conflicts arising from the exacerbation of crisis phenomena in a market economy. It was characterized by a high degree of social guarantees for citizens and policy planning. economic activity. State regulation of prices.

Features of the Market Economic System

Definition 2.

A market economy (economic system) is called such an economic system, which is based on private ownership of the means of production and is managed using market mechanisms.

This system originated in the depths of the traditional economic system. The main stimulus of its development was the desire of entrepreneurs to an increase in personal profits (benefits). For this purpose, entrepreneurs showed the initiative, the production of products for sale (commodity production). The market saturation occurred taking into account the interaction of supply and demand.

Theoretics of the market economy at the initial stage of its development denied the need to manage and regulate production. They considered the market economy a self-regulating system. But unevenness economic Development and the spontaneous nature of the market relations led to the emergence crisis situations in economics. Crisis has become systematic and covered, except production, also social life. Social contradictions aggravated.

In order to smooth out the consequences of crises or avoid them, in the $ XX $ century in different countries of the world were developed and implemented national models Market economy, who allowed the active state intervention in the issues of economic management. A promising long-term plans for economic development were accepted. This economic system was named mixed economy. It was a combination of the advantages of market and planned economic systems. But many scientists consider it an upgraded variety of market economy. After all, this system operates under the prevalence of private property and market mechanisms for regulating production

Objects of the Market Economic System

Like any economic system, the market economy has its own structure. Its components are:

• economic objects;
• economic entities;
• basic economic relations.

Definition 3.

Definition 4.

Resources are objects and objects that can be used to carry out the production of material goods or the provision of services to consumers.

Resources are divided into human (labor), natural (wealth of nature and natural conditions), capital, financial. Natural resources for the degree of exhaustibility and recovery are divided into inexhaustible (the energy of the sun, wind, current waters, geothermal energy) and exhausted. The latter, in turn, are divided into renewable (biological) and non-renewable (mineral) resources.

Subjects of the Market Economic System

Definition 5.

The subjects of the market economy are participants in market relations for the production, distribution and sale of manufactured products and material goods.

Numerous subjects take part in economic relations. They can be private ( individuals), legal entities (enterprises and organizations of various forms of ownership). Active participant economic Life in modern world There are states and their associations (political, economic interstate entities).

The state, on the one hand, can act as legal entity. This is manifested in the form of enterprises of the public sector of the economy. On the other hand, the state takes part in the management of production. It regulates economic activities through the adoption of various laws, conducting a tax and credit and financial policy of a certain orientation.

Major Subjects of Market Economy

There are many market entities. These are producers and consumers, entrepreneurs and employees, industrialists, bankers, merchants, owners of loan capital and securities, etc. In the most general form of the market economy, they are combined into three large groups (Fig. 7.4).

Each of these aggregated subjects performs the features characteristic of it (Table 7.2).

Table 7.2. Functions of the main subjects of the market economy

State as a subject of market economy

The real model of the economic device involves the use of both the market mechanism that ensures the effective functioning of the economy and the state regulatory mechanism for solving a number of problems, which the market refuses or the market decision of which is too expensive for society (Fig. 7.5.)

The main tasks of the state in the conditions of market economic systems:

• - legal support operation of the market mechanism;
• - organization and regulation of money circulation;
• - protection and promotion of competition;
• - production of public goods;
• - minimization of transaction costs;
• - compensation of external effects (externalities);
• - minimization of macroeconomic oscillations;
• - Redistribution of income through fiscal policy;
• - Implementation of national interests in the global economy.

External effects (external) - Costs and benefits due to production and consumption economic Goods Subjects not participating in the market agreement. External effects may be negative and positive.

Positive effects Another way occurs when the production or consumption of any good brings unpaid benefits to third parties.

Example. The cost of limiting the dissemination and liquidation of the cholera epidemic (insulation of patients, rendering them medical care, The content throughout the incubation period of those in contact with patients, etc.) give a positive effect to those who could get sick, but escaped this fate, without paying directly marked health services.

Negative effects There are in cases where the production or consumption of any good determines the noncompensated costs of third parties.

Example. Contamination of the environment, the company shifts part of the costs (to introduce cleansing structures, waste-free technologies, etc.), which he should have implemented, for the population, forcing it in this way to spend part of its income on treatment, to live under discomfort and t. p.) "Without compensating for this (population) of these costs.

The consequence of positive externals is the excess of public utility of goods over individual utility. This excess is not compensated by the market, because the market pays only individual utility. Therefore, the market sends such goods to the production of such goods.

The consequence of negative externalities is to reduce the actual costs of the entrepreneur, which necessitates the expansion of the proposal of these goods in excess of equilibrium level and reducing prices relative to the optimal level. Therefore, the market directs resources on the production of economic benefits with a negative effect over their optimal volume.

English Economist Arthur Pig As a result of the study of the nature of Externals offered the introduction of a certain tax to the state to eliminate external effects, which is known in the scientific literature as a tax of Pig.

American economist Robert Cowase based on the study of external effects came to the following conclusions opposite to the conclusions of A. Pig.

• 1. If ownership of legislation is clearly defined and people are carefully adhered to them, then no external effects arise, "market failures" does not exist and the state has no need to interfere with economic life.
• 2. External effects occur only where the ownership rights are blocked. There, where they are clearly defined, the external effects turn into internal.
• 3. Transactional costs (costs of using the market mechanism) are of paramount importance for the successful market functioning.
• 4. State regulation is justified only when the costs associated with state intervention will be less than the costs associated with the "market failures".

Thus, if existing external effects are perverted monetary evaluation costs and benefits, which causes an inefficient resource allocation, market system public goods does not produce or produces quasocial benefits significantly less than society has the need for them.

Unlike ordinary private goods, the use of which implies compulsory acquisition for money (purchase), public goods (National Defense, public administration, environmental protection, IT street lighting. p.) Consumed because they are produced. The benefits of the use of public goods are not only those who carried out the costs of their creation or paid their consumption, but also those who did not spend anything. Costs for the production of public goods are carried out by means of exemptions in the form of taxation.

Resource potential of economic growth.

Seminar Plan 2.

1. Commodity production and its features.

2. Conditions for the existence of a market economy. Market failure.

3. Economic institutions as a mechanism for organizing economic activity.

4. Property as a system of economic relations.

2. Restructuring russian economy through redistribute property

3. Post-industrial economy and the main contradiction of socialism.

4. Results of privatization in the Russian Federation and the main directions of its further development.

The main economic entities are consumers (households), firms, state and its institutions. Contemporary economic theory It comes from the background about the rational behavior of agents (subjects). This means that the goal is to maximize the results during data costs, or minimizing costs at a given result.

Households make demand for consumer goods and services, while simultaneously suppliers of economic resources. Firms make demand for resources, offering in turn consumer goods and services. The behavior of the main economic agents is expressed in a circuit of goods and cash.

Households deliver required resources (work, capital, natural resources, entrepreneurial abilities) and receive cash income ( wages, Renta, percentage, profit).

Supplying and specifying a simple model of economic circuits, we note that it may include: financial markets (credit system), state functions and international trade.

The company is an economic entity that is engaged in entrepreneurial activities and has economic independence (in making decisions about what, as in which sizes to produce, where to whom and at what price to sell its products). The company combines resources for the production of certain economic benefits in order to maximize profits.

For countries with a market economy, the presence of the following major forms of entrepreneurial activities are characterized by: private-winning firms and corporations, regulated and state firms, consumer cooperatives and self-governing firms. The scale of the enterprise is divided into small, medium, large ones. Large enterprises make up the basis of social production. Usually they have high technical equipment, characterized by higher labor productivity, allow you to save on costs, have other advantages characteristic of highly concentrated production.

Small enterprises also have advantages: high adaptability to changing market conditions And closer communication with consumers. Production needs a rational combination of large, medium and small enterprises.

The most common form of management becomes joint-stock enterprises. If the work of his members is united in cooperatives, then the JSC combines the owners of the capital. There are open and closed joint-stock companies.

The imperfection of the market mechanism, its inability to independently cope with the problems of monopoly, external effects and costs, the problems of "public benefits" requires active state intervention in the economy.

Under state regulation is understood to the rules and laws issued to control operations. economic organizations. Allocate two forms of regulation - economic and social. In sphere economic regulation There are control over prices, types of goods, the conditions of entry and exit from the industry or service standards in a certain industry. Social regulation is an adjustment of an extensive circle of side or external effects. The processes of production and consumption of certain types and services are accompanied by useful or harmful effects that are experiencing persons directly involved in these processes.

The imperfection of the market mechanism is also manifested in solving the problem of the optimal production of public benefits, which are usually produced with the participation of the state due to the compulsory taxation of consumers.

The theory of public selection is a branch of the economy that studies the decision-making process by the state. It analyzes: what? as? And for whom? With regard to non-market relations, just as the theory of demand and suggestions analyzes the effect of pricing on the distribution of resources.

Economic activities States manifest in various forms. One of them is public entrepreneurship on the basis of state ownership. The state has industrial enterprises, railways and others. Transport arteries, communication means, a significant part of the basic funds of health care, education.

Questions for self-test:

1. Name the main subjects of the market economy.

2. What explains the model of the circuit of resources, products and income?

3. What is entrepreneurship?

4. What form are entrepreneurship?

5. Name the signs joint stock companies Open and closed types.

6. What are the reasons for state intervention in the economy?

7. What is the economic role of the state?

8. What are the forms of participation of the state in economic life.

9. How carried out state regulation?

10. In which direction is updated state system in Russia?