Lakhasly

ticket;
d) there are no opportunity costs?
9. Suppose that all resources in the economic system are used in such a way that to increase the production of one
one product is possible only by reducing the production of another.
An economist would call this situation:
a) effective; b) ineffective; c)
administrative-command economy; d) an economic crisis?
10. The three main factors of production are labor, land (natural resources), capital (capital costs). Which of the following groups includes all three components:
a) air, scientists, cars; b) entrepreneurs, money, rent; c) workers, machines, buildings; d) oil, gas pipeline, jewelry?

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Topic3. PROPERTY RELATIONS
IN THE MARKET ECONOMY

3.1. Property as an economic category

Property is a system of objective relations between

do people about the appropriation of means and results of production
leadership.
The place and role of property in the system of public relations sences can be defined by the following provisions:
1. Property is the foundation of the system of social relations. The economic content of the category of property depends on the nature of established forms of property, which include relations
of production, distribution, exchange, and consumption. For example, a market economy is characterized by the predominance of private property. 2. Property determines the position of the strata of society,
their


use of all factors of production.
3. Property is the result of historical development, that is, the forms of property change in accordance with the change in the modes of production due to development.

I eat productive forces.

4. Property has interweaving and interaction
of all forms of ownership, that is, within the framework of each economic system, there is a basic specific form of ownership that determines the system, but this does not contradict the possibility of the existence of its other forms, both old ones that have passed from the previous system, and new ones that are


running.



5. The transition from one form of ownership to another can

go in two ways: evolutionary - on the basis of a competitive struggle for survival, the gradual displacement of everything that is dying and the strengthening of the dominance of the viable; or revolutionary - the forcible assertion of the domination of new forms of self

validity.

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3.2. Relationships and property rights

The system of property relations has the following elements: object of ownership; subject of ownership; forms of connection of factors of production (possession, disposal, use). Property objects are represented by three blocks:

investment resources, objects of labor, objects of consumption
niya.
Investment resources cover all produced
means of production, that is, all kinds of tools, machines, equipment, storage, vehicles, etc.

By the nature of participation in the production of objects of labor de
fall into the following main groups:
- production stocks - objects of labor that are still did not enter directly into the production process and are in stock at the enterprise;
- unfinished production; - distribution costs for the remainder of goods: - deferred expenses;

- other stocks.
In addition, the block of objects of labor includes the element "natural resources", which includes such resources as arable land, forests, deposits of minerals and oil, water

resources.
The meaning of the formation of relations for the appropriation of consumer goods is that individual interests arise, develop and actively act in a timely manner. The motive of self-interest gives direction and order to the functioning of the economy, which without such interest would be extremely chaotic. Decisions made by consumers are realized through a system of markets. Market



is a mechanism that provides a contact between buyers of consumer goods and suppliers of goods and services. The result of their decisions forms a system of prices for products. These prices serve as benchmarks, guided by which consumers

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The actors make and adjust their choices to ensure self-interest.

The subject of ownership is the active side of the relationship
property, having the opportunity and the right to possess the object of property.

Relationships between subjects and objects of ownership are represented by relations of ownership, use, disposal ,
constituting both legal and economic categories.
Ownership is the initial form of ownership, reflecting the legal, documented fixation of the subject of ownership.

Use - property relations, meaning the use of an object of property in accordance with its
purpose

I eat and at the request and discretion of the user. Possession and use may be combined in the hands of one entity or be divided between different entities. Consequently, you can use a thing without being
its owner (owner), and vice versa, you can be the owner and not use the object of ownership, transferring this right to another subject.


Disposition is the highest way to implement the relationship between the object and the subject of ownership, giving the subject the right and opportunity to act in relation to the object (and use it) in any desired way, up to transfer to another subject, transformation into another object, and even liquidation. The subject having the right of disposal has the possibility of exercising the basic powers of the owner: establishing the ways of application, the right to make transactions (sale, donation, lease) in relation to the object of ownership. The transfer of management rights essentially means the transfer of the powers of the owner to other hands.




The English lawyer A. Honore singled out in the aggregate ownership of 11 elements:
- ownership right;
- the right to use;

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- the right to manage, that is, to make decisions about how, by whom, under what conditions can the property be used
news;
- the right to income from the use of property (the right to assign the result); - the right to the capital value of a thing (the right to alienate

consumption, change, physical destruction);
- right to security - immunity against expropriation

tions;



- the right to transfer by inheritance or will;
- perpetuity of property rights; - prohibition of harmful use,
i.e. duty

refrain from using property to the detriment of others;
- property liability, which implies the possibility of alienating property in payment of a debt; - "returnable" nature of property rights, that is, the return of powers transferred to someone after the
expiration of the contract, in case of violation of its conditions.




3.3. Characteristics of forms of ownership
The form of ownership is a criterion characterized by
sign of the subject of ownership, that is, determining the belonging of various objects of ownership to the subject of a single nature.

In general, the set of forms of ownership can be divided as follows: - public property, has a
common and equal accessibility for all members of society, represented in the form

natural resources;
- state, represented by subsoil resources, basic
ny production assets, working capital. It is part of the public property, transferred

bodies of democracy to the jurisdiction of state bodies on terms of use with delegation of responsibility;

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- regional state - transferred to the jurisdiction and order of regional state bodies;
- municipal - transferred to the jurisdiction and disposal local government bodies; - collective - represents an
indivisible part of the above forms of ownership, transferred for a certain period of time to the management and disposal of the enterprise team (purchased or leased by the team) and used in accordance with applicable law; - joint share - is a divisible property created, acquired, originally owned




members of associated groups, used by them at their own discretion in compliance with the rules and restrictions established by law ;

- individual - in the form of property, objects, information tions belonging personally to the individual and used with compliance with legal norms that apply to citizens of owners;

- in addition to the above, you can highlight the property public organizations, group, family.

Control tasks
1. The powers of the tenant do not include:
a) possession of the leased property; b) use of leased property;

c) alienation of leased property. 2. Private property is a form of legal fix


rights for a citizen:

a) possession and use of any property; b) use and disposal of any property; c) the use and disposal of any property; d) possession, use and disposal of any


property.

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3. Forms of participation of employees in management and self-government
nii can only be used at enterprises located in collective ownership:
a) true; b) wrong.
4. Property is:
a) the relation of a person to a thing;
b) the thing itself; c) the attitude of
people towards each other regarding appropriation
of things.
5. Separate the subjects and objects of property:
a) land; b)
the state; c) joint-stock
company; d) industrial buildings and structures.
6. If the production is carried out in the interests of a separate th individual, then this:
a) collective property and collective appropriation
nie;
b) private property and private appropriation; c) public property and public appropriation
nie;
d) all answers are wrong.
7. The law of ownership of the product of one's labor is connected:
a) with hired labor; b) with personal labor; d) all answers are correct.
8. Distinguish between positive and negative manifestations private property:
a) property differentiation of owners; b) rigid dependence of the owner's well- being on the results of production activities; c) promoting the development of
entrepreneurship; d) increased competition.

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Leno:

9. The existence of state property is conditional

a) the presence of capital-intensive and unprofitable industries; b) the need to address national and social
al tasks, maintaining the standard of living of the population;
c) the desire to increase government revenues; d) all answers are correct.
10. If any property is leased, then the tenant:
a) is a potential owner; b) manages the use value of
the property; c) is the full owner; d) disposes of the value of this property (may


sell or donate).


Topic 4. TYPES AND MODELS
ECONOMIC SYSTEMS

4.1. The concept of economic systems

The economic system is the totality of all economic processes taking place in society on the basis of property relations and organizational forms operating in it. Man lives in the midst of nature, but at the same time he is

and in a certain ecological environment in which people's behavior is formed regarding the production, exchange, distribution and consumption of material goods. And this is the economic system.
The main distinguishing features of economic
systems are the form of ownership and the method through which which the system is coordinated and managed. Based on
these criteria, there are different types
economic system: market economy of free competition (pure capitalism); modern market economy (mixed economy); traditional economic system; command economy (planned-centralized).

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All economic systems solve the same problems
whether decisions are made entirely by government or by the market forces of supply and demand. These tasks include adapting to changing conditions and

determining what and how much to produce, as well as the method of production and who will receive or consume the goods produced. Each of these tasks is extremely difficult if
take into account the hundreds of thousands of products, the different ways in which these products are produced, and the enormous problem of distributing these products to the hundreds of millions of people living in large cities and remote rural areas.

While the marked tasks are solved by all econo
economic systems, the goals of economic systems differ depending on the values that have been formed and established in a given society. The chosen goals may be based not only on the criteria of economic efficiency, they may be closely related to politics, religion, ideology, national relations, the desire for freedom and independence, the desire to maintain control, etc. There are trail


which are the main goals of economic systems.

The economic growth. Rapid economic growth is an important priority for developing countries. In industrialized countries in recent years, economic growth as a goal
is called into question due to such processes accompanying it over the past two decades as environmental pollution and the rapid growth in the consumption of non-renewable resources. Full employment. While most industrialized countries set the goal of achieving
full employment, only

the socialist countries have guaranteed full employment for the past four decades. There is a general consensus in industrialized countries that the economic system must be able to provide jobs for those who want to work. Many developing countries have high unemployment rates

and underemployment, and they really fail to advance the goal of achieving full employment.

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Economic security. In most countries , it is believed that society should ensure the existence of the sick,
the disabled and the elderly.
Price stability. With the exception of some countries in Latin America and Africa, most countries believe that there should not be large changes in the price level. There are countries, in particular Germany and China, where they are sensitive to even small changes in the price level.

economic freedom. The discussion is about how important and necessary economic freedom is. At present, there is a clear trend towards the development of economic freedom
as many countries move from a centrally controlled economy to a market economy. Redistribution of income. While there is considerable disagreement
about whether income equality is necessary, there is general agreement that all people should eat well, and in most societies steps are being taken to achieve this goal.


Foreign trade balance. economic reality
forces countries to strive for a long-term balance of foreign trade.

Economic efficiency. In most societies , it is believed that they are responsible for the most effective
tive allocation of their resources.
It should be noted that some goals may complement each other (for example, employment growth contributes to improving economic security), while others may contradict each other (for example,
it is very difficult to increase employment and maintain price stability at the same time).

4.2. Types of economic systems

The traditional economy is an economic system in which the distribution of limited resources occurs in accordance with customs.

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The pace of development and change in the traditional economy
are extremely low, people do the same things that their parents used to do. In addition, most goods are consumed where they are produced. The standard of living in such societies is low. Economic questions - what and how to produce and distribute - are not considered economic problems.

Production in the traditional economy was limited, closed, local in nature, since the direction of activity, the nature of its organization, the scale of production were predetermined for a person in advance by the local group to which the person belonged. The place of the direct producer and its function


in the process of production, the purpose and means of its activity, the quality and quantity of products produced were determined not only
to the level of development of the productive forces, but also to specific persons: either the association of workers to which the given individual belonged (primitive or peasant community, handicraft workshop, etc.); or representatives of the dominant

th class.

Lack of social division of labor, isolation,
isolation from the outside world, self-sufficiency of resources, as well as the satisfaction of almost all needs at the expense of one's own resources are the main features of the traditional economic system. For such an economy, it is advantageous

The quality of the products, not their price, was of particular importance; its goal was personal consumption, which changed little from one era to another.

Personal dependence encompassed not only relationships,
of mediocre production, it also extended to the relations of distribution, exchange and consumption. Belonging to a particular group (community, caste, estate, class)

predetermined the place of a person not only in production, but also in society, and, consequently, was reflected in his way of life, the “standards” of his being: the scale of personal wealth, the amount of income, the sources of their replenishment, etc. Distribution, exchange

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and the consumption of material goods took the form of personal relationships, were fixed by tradition, legal norms, morality,
and sometimes by political institutions, were reflected in social psychology, sanctified by religion.
Market economy (market economy) is characterized as a system based on private property, freedom of choice

and competition, it relies on personal interests, limiting there is the role of the government.
In the process of the historical development of human society, preconditions are being created for strengthening economic freedom. Economic freedom is the ability of an individual to realize his interests and abilities through vigorous activity in the production, distribution, exchange and consumption of economic goods.


Objective and subjective prerequisites for this arise after the elimination of all forms of personal dependence. The development of a market economy played an important role in this. The market economy guarantees, first of all , the freedom of the consumer, which is expressed in the freedom of consumer choice in the market of goods and services. Voluntary, non-coercive exchange becomes a necessary condition for consumer sovereignty. Each

independently distributes its resources in accordance with its
their interests and, if desired, can independently organize the process of production of goods and services on a scale permitted by his abilities and available capital. This means that there is freedom of enterprise. Individual

he determines what, how and for whom to produce, where, how, to whom, how much and at what price to sell the produced products, how and on what to spend the received proceeds. Therefore, economic freedom presupposes economic

responsibility and rely on it.

Self-interest is the main motive and the main driving force of the economy. For consumers this interest is utility maximization, for producers it is profit maximization. Freedom of choice becomes the basis of competition.

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Thus, the market economy, or capitalism of the era
free competition is an economy in which only the decisions of the consumers themselves, resource providers and private firms determine the structure of resource allocation. Pure capitalism is characterized by private ownership of the
means of production and the results of labor. Economic activity is regulated through a system of markets and prices. Private property is designed to provide everyone with personal independence and the possibility of developing economic activity. The role of the government here is limited to the protection of private property, the control of legal norms. In a market economy, price changes serve as a signal to producers and consumers, forcing them to revise their plans.



Command economy (command economy) - economic
a system in which material resources are state property, and the direction and coordination of economic activity is carried out through centralized

nogo planning.
The command system (centrally planned) functioned in the Soviet Union, in the countries of Eastern Europe and a number of
Asian states.
Its hallmarks are the public
ownership of the means of production and the results of labor, centralized economic planning as the basis of the economic mechanism. Resources are distributed by the state from a single center according to a plan, in contrast to a market economy, where the resources are received by the one who pays the most.
In a command economy, prices do not depend on
from fluctuations in supply and demand, they are appointed by the state
property.
Production does not work for profit, but for the sake of fulfilling the state plan, which is focused on satisfying social needs.

A characteristic feature of the command economy is the monopoly of production, which ultimately hinders scientific research.

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but technical progress. State regulation of prices,
monopoly of production, inhibition of technological progress
naturally give rise to an economy of scarcity. The paradox is that scarcity occurs in conditions of universal employment and almost full capacity utilization.

Hypercentralism naturally promotes swelling bureaucracy. The basis of its growth was the monopoly role in the hierarchical division of labor.
The administrative-command system is a peculiar, ideologized form of bureaucracy. It is characterized by the merging of legislative and executive, military and civil, administrative and judicial powers, the merging of parties

leg and state apparatus. In a command
economy, the redistributive principle of product distribution dominates.
Participation in power also means participation in distribution. The vertical, center- dependent form of product distribution results in

is found in the nomenclature levels of distribution, trade is combined with distribution, becoming not a form of exchange, but a form of redistribution (special stores, special buffets, special canteens, etc.). Therefore, the main form of social struggle is not the struggle for ownership of the factors of production, but the struggle
for access to key distribution levers, for control over
distribution channels. Income in society depends primarily on status, rank and position. Under these conditions, the proclaimed universal equality more and more turns into a fiction.
A mixed economy is an economic
a system that synthesizes elements of market and command systems, that is, the market mechanism is supplemented by the active activity of the state. This economy combines elements of public ownership of the means of production
with private property. The point is that no single economic system exists in its pure form. Every economic system has elements of other systems. The market system of free competition disappeared at the end of the 19th century, but many of its elements

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you enter the modern market system. In mixed eco
In nomics, the state plays a comparatively smaller role compared to nenie with the command-administrative. Questions what, how, for whom produce are decided through the market, with the help of a system prices, profit and loss, supply and demand. Ra combination
night forces with the participation of the state in the economy, characteristic of
the American economic system and many other democracies is called a mixed economy.



4.3. Models of economic systems

Within the framework of economic systems, national
models of economic organization that have common properties and differences. Known models are American, Japanese, Swedish, German, Chinese, Russian and others.

In addition, depending on the degree of development of the market economic mechanism and the scale of state intervention in the economy, some countries are combined into model blocks. For example, the countries of the East Asian region, such as South Korea. Japan, Singapore, Taiwan


and others, in a certain sense, have the same time, geo
graphic conditions and events the history of the development of a market economy, so economists combine them into one East
noasian model.
There are Reagan-Thatcher models, Western European, East Asian,
Scandinavian and transitional economy models. The Reagan-Thatcher model assumes a small scale
intervention in the economy. The placement of goods and resources is carried out almost entirely through the interaction of the forces of demand.
and suggestions.

This model is best characterized by the USA. If privatization trends in the UK continue, then it can also be attributed to this model. Western European model. One of the distinguishing features of this model is the creation of a single market

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countries in whose territory political independent states. The European market
model is characterized by the fact that the state does not relieve itself of responsibility for ensuring social stability both in individual countries and in the European community as a whole. This,
in particular, explains the high share of state property and government spending in the GDP of Western European countries.


The East Asian model is characterized by a system of subsidies and, in many cases, protective tariffs in some industries at an early stage of their development.
In Asian countries, the state plays a special role in economic life due to the specifics of the climate, other natural factors, as well as national and cultural traditions. Except

In addition, the dominant religion is of no small importance here.

The goal of government intervention in countries with the Asian model is the same, namely, to increase the competitiveness of their companies and industries in the world market, although the

we of such interference are different.
The Scandinavian model combines market relations
and state regulation, the predominance of private property in the sphere of production and the socialization of consumption. Sweden is a prime example of the Scandinavian model.

There are two dominant goals in Swedish politics: gender employment and income equalization.
In transitional economy models, former cents are singled out.
Rally managed economic systems and large la
Latin American countries. The former include the former socialist countries of Eastern Europe and the republics of the former USSR. In these countries, the banking system and other financial institutions necessary for the effective functioning of a market economy are not sufficiently developed, there is a need

ness in the new administrative and legal institutions, as well as
in specialists who master new methods of production, marketing and exchange of goods and services.

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The major Latin American countries are moving towards greater use of the market mechanism, mainly due to concerns about weak economic growth.

growth in recent decades.
Unlike command economies, this group of countries has a private sector and a long history of market economy functioning. However, the economies of Latin American countries had an extremely high level of inflation, were characterized by a wide scale of centralized regulation and a policy aimed at limiting domestic and foreign competition.


So, in the history of mankind, the emergence and development
market did not act as a kind of end-to-end process. The market has become a kind of social instrument helping people to ensure the economic conditions of their existence and social progress.

The construction of the Russian market model presupposes the formation of an appropriate state economic policy, the creation of stable legislation and a reliable mechanism for the functioning of all inseparable elements of the national economy system.


Control tasks
1. Criteria for differentiating types of economic systems
serve:
a) the form of ownership of resources; b) type of coordination mechanism; c) the level of well-
being of members of society; d) Answers a) and b) are correct. 2. What is the most scarce in traditional eco

nomics:
a) goods and services;
b) money;

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c) time; d)
natural resources? 3.
Indicate a feature that incorrectly characterizes the traditional new economy: a)
constant regulation of the national economy; b) the existence of a social division of labor; c) private ownership of the means of production. 4. What are the common features of such economic

systems, both traditional and command-administrative:
a) lack of private ownership of land; b) planning of the national economy; c) the limited role of commodity production? 5. The characteristics of a free market economy

step:
a) an unlimited number of participants in the competition; b) free access to market information; c) the limited role of the government in the economy; d) all of the above are true. 6. What is a permanent deficit in a market economy

mike:
a) social guarantees; b) money; c) services of world-
class specialists; d) intellectual goods?

7. Which of the following elements is the most important for a market economy: a) effective trade unions; b) universal state regulation; c) balanced
actions of entrepreneurs; d) intense competition in the market? 8. What is a permanent deficit in a command economy?



mike:
and money;
b) resources;
c) goods and services;
d) intellectual goods?

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9. What factors led to the inevitability of a shortage of re resources in the command-administrative economy:
a) prices that do not take into account supply and demand
zheniya;
b) no unemployment; c) competition among producers.
10. Among the advantages of the command and control system
Topics include:
a) mobilization of human and material resources for priority directions;
b) weakly expressed social differentiation; c) a persistent shortage of resources, including consumers
which goods and services;
d) prohibition or restriction of private entrepreneurship.


Topic 5. FOUNDATIONS OF THE THEORY
MARKET ECONOMY

5.1. Conditions for the emergence and main features of a commodity economy
A commodity economy is an economy in which products
are produced for sale, and the connection between producers and consumers is carried out through the market. The commodity economy was historically preceded by another type of economic
organization of production, the so-called subsistence economy, in which people produced products only to satisfy their own needs, without recourse to exchange. Subsistence economy is based on manual universal labor. The state of the productive forces and their organization in subsistence farming were characterized by extreme primitiveness; the set of products created did not change over time. The main questions of the economy - what, how, for whom - were solved

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owners of the farm (they are also employees), focusing on the needs of their farm. With the development of the productive forces, natural economy is replaced
by commodity production. The condition necessary for the emergence of commodity production is social

division of labor in which specialization occurs
manufacturers in the manufacture of specific products.
The results of their activities, people began to provide
other people, and in return they provide the results of their labor activity. It is
the focus of each type of labor activity on satisfying the needs not of themselves, but of others, that gives the isolated activity a social character and makes it impossible for them to exist without each other.

friend.
There are three stages in the history of the social division of labor. At the
first stage, cattle breeding separated from agriculture, which created conditions for regular exchange between the tribes. On the second - the craft was separated from agriculture, which meant the birth of a commodity economy. At the third stage, there was a separation of trade from production and the separation of the merchant class. During this period, market relations become regular.

With the development of deepening and expanding public division of labor, the socialization of labor unfolds. Obob
The existence of labor is the process of drawing various types of labor activity into a single social process of labor, associated with the exchange of directly labor activity or the results and products of labor. The principle of voluntary exchange is based on the fact that both parties expect to receive mutual benefit. Otherwise, the exchange simply would not take place.

The social division of labor was a necessary prerequisite for the emergence of commodity production, and the reason was the economic isolation of producers from each other by property relations. It arose during the period of decomposition of the primitive community, when private property began to appear.

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In economic theory, it is customary to single out simple commodity production and capitalist production. Depending on property relations and the level of development of the productive forces
historically, at first simple commodity production
peasants and artisans, based on small private property, on personal labor and backward technology. Simple commodity production is characterized by the formula:
T (goods) - M (money) - T (goods). The
development of simple commodity production was accompanied by a process of polarization of commodity producers themselves: some of them went bankrupt, others enriched themselves. Formed capitalist commodity production, which is characterized by: the predominance of large private property; human labor power becomes a commodity; it is based on wage labor; the goal of production becomes an unlimited increase in profits. The formula for capitalist (developed) commodity production is:

M (money) - C (goods) - M' (money). In this
formula, the original money is less than M' (final money) by the amount of surplus value. The basis of a market economy is commodity production. But
commodity production arose before market (capitalist) production.




5.2. Product and its properties

The key category of commodity production is commodity. There are different understandings of its essence. K. Marx begins his work “Capital” with an analysis of the commodity: “The wealth of societies in which the capitalist mode of production dominates
management, appears as a huge accumulation of goods, and an individual commodity as an elementary form of this wealth.
In Marxist theory, a commodity is viewed as a product of labor useful to a person, intended for sale. From this
definition it follows that, firstly, a commodity is only that which
that satisfies a human need. Secondly,

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a commodity is something that has been tested by labor: for example, berries in the forest are not a commodity for their gatherer, but can become one after labor has been expended to collect them. And thirdly, tova
rum is then. which is for sale.
In the Austrian school of economics, which is represented by K. Menger, a commodity is defined as a specific economic good produced for exchange. K.
Menger refers to economic benefits as those that are the object or result of economic activity and which can be obtained in a quantity that is limited compared to needs.

The difference between these definitions is that the second definition takes into account the relationship between the need for a good and the availability of this good, while the first does not.
Marxist political economy reveals the essence of a commodity through its two properties: use value and exchange value. Marginalists - through use value

and marginal utility, where there is no indication that the commodity must necessarily be the product of labor.
So, a product has two properties: - the ability to
satisfy any human need - it is a use value; - the ability to exchange for other goods in a certain

Noah quantitative proportion - exchange value.
The question of WHAT underlies the exchange and determines the quantitative proportion in which one commodity is exchanged for another was first posed by Aristotle. In the future, various eco
nomic schools responded to it in different ways. In accordance
with the labor theory of value, the exchanged commodities have a common basis in the form of labor costs, which determine the value. Value is social labor embodied in that var. Value is not a natural property, but a social relationship between producers of goods, hidden by a material shell. Exchange value is a form of value, its external manifestation in the act of exchange, and develops with the development of exchange itself.

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According to K. Marx, the labor of a commodity producer is dual. On the one hand, it is a certain kind of work. It is characterized by the use of certain tools, certain professional skills of the worker and a very specific result - a certain use value. Therefore, the work that created it was called conch.


retnoy labor.

On the other hand, labor is the expenditure of labor power in general, regardless of its specific form, a particle of total social labor. This is abstract labor, it is precisely this that creates value, because it is that common thing in the labor of various specialists, which makes it possible to equate different consumer

value to each other.
The views of classical economists on the measure of value differed. A. Smith took working
time as a measure of value. D. Ricardo - working time for the production of goods in the worst conditions of production. K. Marx defined the value of value as the socially necessary labor time that goes into the production of a product under socially normal conditions of production.


production, that is, with an average level of skill and intensity
labor.
From the point of view of representatives of the theory of marginal utility (K. Menger, Böhm- Bawerk, L. Walras, etc.), the cost is determined based on the subjective assessments of the buyer. This theory is based on the study of the marginal (additional, after-days) utilities of consumed goods and their impact on demand.

In the theory of marginal utility, the objectivity of economic relations is replaced by an analysis of the subjective-psychological assessments of people, value appears as a result of its own

different relationship between man and thing.
The subjective value of a good depends on two factors: on the available stock of a given good (rarity) and on the degree of saturation of the need for it.

Marginal utility is the utility of the marginal instance of a good that satisfies the least imperative
need.

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ness. It is equal to the change in the total amount of utility divided by the change in the amount consumed.

5.3. Money as a category of commodity production

There are two approaches to the study of the origin
money - subjective and objective. In the subjective approach, it is believed that money arose as a result of an agreement about it between people. With an objective approach, it is proved that money is the result of the development of commodity-money relations, in the process

all of which stood out from the mass of goods one, behind which played the role of a universal equivalent.
According to the latest theory, the emergence of money is associated with the development of commodity exchange. At the early stage of the development of society, the exchange was of a random nature, the product was directly exchanged for another product. One commodity expressed its value relative to another commodity. The second commodity, with the help of which the first one expresses its value, acts as an equivalent, representing an equivalent form of one hundred



property.

In the conditions of a primitive society, any product acted as an equivalent. It was a simple, singular or accidental form of value. As production develops and the social division of labor develops, the quantity of products exchanged increases. That's why


it became possible to compare the value of a commodity not with a single commodity that happened
to be in excess of someone, but with many others. This form of value is called full or expanded. Further development of the social division of labor under


led to the fact that from the entire world of commodities one commodity is singled out, recognized by all and exchanged for all other commodities. This is the universal form of value, and this commodity, exchanged for all other commodities, is called the universal equivalent. Among different peoples, the role of the universal equivalent was played by different

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personal goods, for example, the Indians had special shells -
wampum, in China - tea, in Cameroon - ivory rings, in Russia - cattle. In Old Russian, the word


"Cowgirl" meant the treasury, and the word "money" itself appeared in times of the Mongol yoke, when Tatars became a means of payment which coin is "money".
Gradually, the role of the universal equivalent was assigned to silver and gold, which led to the establishment of the monetary form of value. Gold - a labor-intensive and rare metal - served as a universal equivalent due to its following properties:

1) qualitative uniformity; 2) quantitative divisibility;
3) portability (in a small amount of gold incarnate


there is a large amount of labor);
4) persistence; 5) recognition
(gold is recognized by everyone). As an ordinary commodity,
gold has a use value and value. The use value of gold lies in the fact that it is used for making jewelry, gilding, used in industry, etc. The value of gold, according to the labor theory of value, is determined by the socially necessary labor expended on its production.



The essence of money is determined through their functions: a measure of value, a means of circulation, a means of payment, a means of accumulation.
leniya, world money.

The function of money as a measure of value is the ability of money to measure the value of all commodities. The value of a commodity in terms of money is its price. To measure the value of goods, it is necessary to take a certain amount of money as a unit. Such a unit is called a price scale. On the one
hand, the scale of prices, like any measure (for example, length or weight), is conditional, and on the other hand, it must be recognized by everyone in the country.


Money performs the function of a medium of circulation when it plays the role of an intermediary in the exchange of goods. An alternative to money exchange is natural (barter) exchange. In condition

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In bartering, you need to find a person who has something. what you need and who wants what you have. In a money economy, everyone can sell what he has to anyone and buy what he needs. Therefore, money is a medium that makes exchange faster. To service commodity circulation, a certain amount of cash is required. The amount of money needed to fulfill the function of a
medium of exchange depends on the sum of the prices of the commodities in circulation. The amount of money M needed for circulation is the sum of the prices of goods sold P, divided by the number of revolutions, the monetary unit V:


M=P/V.
A. Marshall and I. Fisher proposed a neoclassical quantitative theory of money. Most Western economists use the exchange equation formulated by the American economist I. Fisher, which expresses the dependence of the price level on the monetary unit:

MV=PQ.
where M is the money supply; V is the velocity of money circulation; P is the level of commodity prices; Q - the number of circulating goods.
With the development of commodity circulation, the time for the sale of goods increasingly separates from the time for their payment. This means that the goods are sold on credit or, conversely, on a prepaid basis. The functioning of money apart in time from the circulation of goods is a function of money as
a means of payment.
Money performs the function of a store of value because, after the sale of goods and services, they provide their owner with purchasing power in the future. Money in this case turns into an instrument for future purchases, a store of value. Other means of accumulation can serve as

things, such as jewelry, real estate, works of art, etc. In economics, there is a general term for them. They are called assets that have a certain

liquidity, that is, the ability to act as a means of payment. Money has absolute liquidity.

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Performing the function of world money, they are used in servicing international trade, transferring capital from one country to another, and creating foreign exchange reserves.


Control tasks

1. Which of the statements incorrectly characterizes the natural
farming:

a) in a natural economy, everything you need man for life, he produces himself;
b) in the conditions of natural economy, the produced product is not subject to exchange;
c) in the conditions of natural economy there is a close

dependence of producers from each other;
d) subsistence farming has a very low result tativity?
2. Which statement distorts the essence of commodity production: a) commodity production exists only if there is
division of labor;
b) commodity production involves the production of a product to meet the needs of the production itself.
driver;
c) commodity production is impossible without exchange; d) commodity production involves the production of
products that consumers need? 3. During the period of the collapse of the economy, the enterprise organized
domestic production of all ancillary products for
its activities and continued to operate. Can it be argued that a subsistence economy arose at the enterprise:
a) it is possible, since everything necessary for the activities of the
produced within the economy;
b) it is possible, since there is no exchange of goods within the enterprise and external exchange of goods is interrupted; c) it is impossible,
since the products of the enterprise remain then
brew for the market.

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4. What function of money can be performed by barter (with a certain degree of conventionality): a) measure of value; b) means of circulation; c)
means of payment; d) means of accumulation? 5. What function of money testifies to their absolute