An absolute advantage in the production of product A - the presence of a certain country of the ability to produce this product with the least cost of resources.

Prepaid expense - the amount of funds given in advance against forthcoming payments.

Authoritarian capitalism - an economic system in which the main resources are in private ownership, and the government on a large scale directs and regulates the economic process.

Aggregation - combining individual units or data into a single indicator.

Letter of credit - the order of the bank to one or several banks to make, by order or at the expense of the client, payments to an individual or legal entity within the specified amount, on the terms specified in the order.

Assets - 1 ... Part of the balance sheet (left side), reflecting in monetary terms the composition, placement and use of funds, grouped by their economic content2 ... A set of property rights belonging to an individual or legal entity.

Active banking operations - operations of banks on the placement of funds available to them (purchase of securities, issuance of loans).

Active balance of payments - balance of payments, in which the amount of foreign receipts of the country exceeds the amount of its foreign expenses and payments. The amount of this excess is called the balance of payments surplus.

Active trade balance - trade balance, characterized by the excess of the export of goods from the country over the import into it.

Excise tax - tax on expenses associated with the purchase of a specific product or with the amount of the purchased product.

Bearer share - a share, the forms of which do not contain the name of its holder. Only the total number of issued bearer shares is recorded in the register of shares of a joint-stock company.

Shareholder - co-owner of a joint stock company; the owner of shares giving the right to receive a certain income and to participate in the management of affairs.

Joint-stock company - an enterprise whose capital is divided into shares, called shares. The participants of the joint-stock company (shareholders) are not liable for its obligations and bear the risk of losses associated with the activities of the company, within the limits of the value of their shares. Joint-stock companies are open and closed.

Stock - a security certifying the participation of its owner in the formation of the funds of the joint-stock company and giving the right to receive an appropriate share of its profit - a dividend.

Preferred shares - shares giving their owner the priority right to receive income in the form of a fixed, predetermined percentage. In case of liquidation of a joint-stock company, the owners of preferred shares shall be returned the funds invested in the shares at their par value. Preferred shares do not have the right to vote in management decisions.

Ordinary shares - shares giving their holders the right to participate in the general meeting of shareholders and receive income, the amount of which depends on the actual size of the profit of the joint-stock company.

Alternative cost - benefits from possible other use of the limited resource.

Depreciation - 1. The gradual wear of fixed assets and the transfer of their value as they wear out to the finished product.2 ... Gradual debt repayment through periodic installments.

Arbitrator, Arbitrator - a mediator in non-judicial disputes, uninterested in a conflict between the parties, elected by mutual agreement of the disputing parties.

Arbitration - resolution of controversial issues that are not subject to the jurisdiction of the court, arbitrators, as well as the state body dealing with such a resolution.

Rent - property lease; an agreement under which the lessor provides the lessee with property for temporary use for a certain (rent) payment.

Range - the composition of products by types, types, grades, sizes, brands.

Association - association of organizations or persons to achieve an economic or other goal.

Auditor - a person (specialized organization) that checks the financial and economic activities of the enterprise, on the basis of a contract concluded with the management of the audited enterprise. It also performs advisory functions.

Auction - a method of selling at a public auction, in which the sold values ​​are acquired by the buyer, ”who offered the highest price for them.

Base year- the year taken when constructing the price index as a basis for comparison with prices in effect in other years.

Accounting balance - an accounting document that, in generalized monetary terms, gives an idea of ​​the state of affairs of firms at a certain date by comparing the funds used in the process of entrepreneurial activity on the one hand and their sources on the other.

Balance sheet profit - .

Bank - a financial intermediary whose main functions are to accept deposits and issue loans.

Issuing bank - a bank that issues banknotes, securities, payment and settlement documents.

Correspondent banks - banks that execute, on the basis of a correspondent agreement, instructions to each other for payments and settlements through specially opened accounts.

Banknotes - bank notes, paper signs of various denominations, issued in the country.

Bank account -

Bankruptcy - insolvency of the debtor - an enterprise, a firm, a bank, another organization to pay its debt obligations.

Bank account -

Bankruptcy - insolvency of the debtor - an enterprise, woman, bank, other organization to pay on its debt obligations.

Barter deal - a commodity exchange operation with the transfer of ownership of goods without payment in cash.

Exit barriers - factors that prevent a company from transferring production to another industry, for example, the presence of specialized fixed capital.

Unemployment - a socio-economic situation in which a part of the active, able-bodied population cannot find a job that these people are able to perform. Unemployment due to the excess of the number of people wishing to find a job over the number of available jobs corresponding to the profile and qualifications of applicants for these jobs. The unemployed are considered able-bodied citizens who are looking for work, registered at the labor exchange and have no real opportunity to get a job in accordance with their education, profile, work skills. It is customary to highlight frictional unemployment due to the fact that at any time in the economy there are people who are in the process of changing jobs; structural unemployment caused by structural changes in the economy; cyclical unemployment, which is caused by the general decline in vacancies due to the economic downturn.

Business - economic activity with the aim of making a profit.

Burma - a state or joint-stock organization that provides premises, certain guarantees, settlement and information services for transactions with securities, goods, receives commissions for this from transactions and imposes certain restrictions on trading. Organizes wholesale, including international, trade in bulk goods with stable and clear quality parameters (commodity exchange), or systematic transactions for the purchase and sale of securities (stock exchange), currency (currency exchange).

Labor exchange - a government agency that acts as an intermediary between employers and employees.

Exchange Bulletin - the periodic body of the exchange, which publishes (as a rule, daily): on stock exchanges - prices of securities, on commodity - prices of goods and information about concluded transactions. It uses a set of special abbreviations.

Benefits - any means that are beneficial, that is, satisfying any needs. There are free and economic benefits.

Welfare - the measure, the degree of provision of people with the benefits of life, means of subsistence. Well-being characterizes the standard of living of people.

Bretton Woods system - the international monetary system created after II World War II, which implemented measures to regulate exchange rates, the International Monetary Fund helped to stabilize foreign exchange rates, and gold and the dollar were used as international foreign exchange reserves.

Broker - an official intermediary in the conclusion of transactions between buyers and sellers of goods, securities, currencies and other valuables on stock and commodity exchanges, foreign exchange markets. Possesses a place on the exchange, concludes transactions on his own behalf on behalf of and at the expense of the client, receiving remuneration for his services (brokerage commission), the amount of which is regulated by the exchange committee.

Accounting costs -

Accounting - a system of accounting for resources and the results of financial and economic activities of enterprises, carried out according to the accepted rules using the established forms of documents.

Budget - monetary expression of a balanced estimate of income and expenses for a certain period. If the expenditure side exceeds the revenue side, then the budget is reduced to a deficit. The excess of revenues over expenditures forms a positive budget balance.

Budgetary policy - the use of revenues and expenditures of the state budget for the regulatory impact on the economy.

Budget period - the period during which the approved budget is valid. It usually equals 12 months and coincides with the calendar year. In cases where the fiscal year does not start on January 1 (which is not uncommon), the term "fiscal year" can be used. For example: 23.03. Afghanistan, Iran; 04. Great Britain, Israel, India, Canada, Lebanon. Singapore, South Africa, Japan; 1.06. Jordan: 1.0 7... Australia, Egypt, Laos, Pakistan, Saudi Arabia, USA (in most states), Sweden; 8.07. Ethiopia; 16.07. Nepal; 25.09. Sudan; 1. 10. Haiti, USA (federal budget).

Gross profit- the entire amount of the company's profit before deductions and deductions.

Gross Domestic Product (GDP) - the total market value of final goods and services produced on the territory of the country by its citizens and foreigners for a certain period of time (usually a year).

Gross National Product (GNP) - the total market value of the final goods and services produced by residents (citizens) of the country in the country itself and abroad within a certain period of time (usually within a year).

Currency - the monetary unit of the country participating in international economic exchange and other international relations, entailing monetary settlements. As a currency, a national monetary unit has an international "price" expressed in its exchange rate.

Currency basket - a set of national currencies, which is used in the quotation of the national currency or the international collective currency, which makes it possible to more reasonably take into account the purchasing power of currencies, the influence of the general economic conditions of exchange.

Currency dumping - export of goods at prices below world prices from a country with a depreciated currency to countries with a harder or less depreciated currency.

Foreign exchange clearing - mutual offset of counterclaims and obligations arising from the balance of international trade transactions.

Currency market - a system of socio-economic and organizational relations for the purchase and sale of foreign currencies and payment documents in foreign currencies.

Promissory note - a security, which is a written promissory note of a strictly established form, according to which the drawer must unconditionally pay the specified amount of money upon maturity to the owner of the promissory note (drawer).

Complementary products - , the joint consumption of which is necessary to satisfy one need.

Interchangeable goods - that serve to satisfy one need.

Depositor – .

The opportunity cost of producing good A - the amount of other goods that need to be donated in order to produce an additional unit of good A.

Foreign trade turnover - a generalized indicator of the development of foreign trade, the total volume of exports and imports.

Guarantee- a person, organization, state providing certain guarantees and overseeing their implementation.

General Agreement on Tariffs and Trade, GATT - concluded in 1947. an agreement between states, in which each of them agreed to grant the other equal and non-discriminatory treatment of trade, to reduce tariffs on the basis of a multilateral agreement, and to eliminate import quotas over time.

Hyperinflation - an increase in the general level of prices, when, on the whole, prices increase several times over the course of the year.

Rational consumer behavior hypothesis - the assumption that the consumer seeks to obtain the maximum total utility when consuming a set of goods and services within a limited income.

State and municipal unitary enterprises - enterprises, the property of which is, respectively, in state or municipal ownership, and belongs to such enterprises on the basis of the right of economic management or operational management.

Public finance - attraction, management, use of public funds.

The state budget - an estimate of state revenues and expenditures for a certain period, most often for a year, compiled with an indication of the sources of state revenues and the directions of spending.

State debt - the total amount of the federal government's debt, equal to the sum of past budget deficits (minus budget surpluses).

Government sector - a part of the country's economy fully controlled by the state.

The state as an economic entity - a set of bodies and persons who have concentrated economic power in their hands, make economic decisions on a national scale, and manage state or public property.

Debtor- a debtor, a legal entity or an individual, who has a monetary debt to an enterprise, organization, institution.

Devaluation - a decrease in the official gold content of a country's monetary unit or a decrease in its exchange rate in relation to the currencies of other countries, carried out by law.

Mottoes - means of payment in foreign currency intended for international settlements,

Currency unit - a statutory banknote, one of the elements of the monetary system, which serves to measure and express the prices of all goods.

Money supply - the total volume of purchasing and payment means serving the economic turnover and belonging to individuals, enterprises and the state.

Monetary instability - a situation when the flow of money in the economy does not correspond to the flow of goods; as a consequence, the purchasing power of money changes.

Money turnover -continuous movement of money in the process of remuneration of labor, sale of goods, payments for services and making other payments.

Monetary balance - equality of the flow of money to the flow of goods in the economy. This situation is characterized by the stability of prices, interest rates, and the behavior of financial market agents.

Monetary aggregates - types of money and funds that differ from each other in the degree of liquidity. Indicators of the structure of the money supply. The composition of monetary aggregates is different by country. The most commonly used aggregates MO (cash), M1 (MO + checks, demand deposits, M2 (M1 + small time deposits), MZ (M2 + all other types of deposits), (MZ + securities).

Money - funds that can be accepted as payment for any goods and services.

Deposit -cash or securities deposited with financial and credit, customs, judicial or administrative institutions.

Deposit - to give for storage, make a contribution, a contribution.

Depression - the state of the economy when the production of goods exceeded the money supply corresponding to the products produced; the consequence is a reduction in production.

Deficit - lack of funds, resources, goods in relation to the previously outlined, planned or required level.

State budget deficit - excess of state budget expenditures over its revenues.

Deflator - the coefficient used to recalculate economic indicators, calculated in monetary terms, to bring them to the level of prices of the previous period. For example, the GNP deflator.

Deflation - 1. Withdrawal from circulation of surplus paper money and irredeemable banknotes issued during inflation.2. An increase in the purchasing power of money, expressed in a decrease in the general level of prices in the economy.

Dividend - part of the profit of a joint-stock company, annually distributed among shareholders in the form of income on the shares they own in accordance with the number and type of shares in their possession.

Dealer - a person (firm) performing exchange or trade intermediation at his own expense and on his own behalf. Possesses a place on the stock exchange, quotes any securities. The dealer's income is generated from the difference between the purchase and sale prices of currencies and securities, as well as from changes in their rates.

Discount - 1. The discount interest in banking practice, charged by the bank when recording promissory notes.2 ... In the practice of foreign exchange and commodity markets -

discount from the exchange rate for urgent cash transactions.

Discounting of bills, accounting of bills - Purchase of bills by the bank from bill holders before their expiration.

Distributor - a company that sells on the basis of wholesale purchases from large industrial firms, manufacturers of finished products. It is a relatively large company with its own warehouses and establishing active contractual relations with industrialists.

Household - an economic entity that has consumption as a target and owns different types of resources.

Assumption "ceteris paribus" - the assumption according to which factors other than the investigated ones are constant.

Income - in the broadest sense of the word means any receipt of funds or receipt of material assets with monetary value. See also Enterprise Income.

European Common Market, European Economic Community - an association of European countries, formed at the beginning of 1958. with the aim of gradually eliminating customs tariffs and import quotas in trade between its members, establishing common tariffs for imports of goods from third countries, ensuring further free movement within the framework of the association of labor and capital, developing other principles of a coordinated economic policy and forming a single economic space.

Sole ownership - a private firm owned and operated by one person.

Natural monopoly - an industry in which the economies of scale are so great that a product can be produced by one firm at lower average costs than if several firms were involved in its production.

Natural unemployment rate - the level of unemployment at full employment.

Product life cycle - the period of time from the conception of the product to its withdrawal from production and sale. In marketing, the following stages of the cycle are considered:

1. origin (development, design, experiments);

2. growth (appearance of a product on the market, formation of demand);

3. maturity (batch production, wide sale);

4. market saturation;

5. attenuation of the sale and production of the product.

Loan- an agreement under which one party (the lender) transfers to the ownership or operational management of the other party (the borrower) money or things defined by common "characteristics, and the borrower undertakes to return the received amount of money or things of the same kind and quality.

Oiken's (Oaken's) law - a regularity derived empirically; suggests that, as a rule, an excess of unemployment by one percent over its natural level leads to a lag of real GNP from the potentially possible by 2.5 percent.

Supply law - in any market, at any time, all other things being equal, there is a positive relationship between the price of a product and the value of its supply.

Demand law - in any market, at any time, all other things being equal, there is a negative relationship between the price of a product and the amount of demand for it.

Closed joint stock company - a joint-stock company, the shares of which are distributed only among its founders or other predetermined circle of persons. Such a company does not have the right to conduct an open subscription to the shares issued by it or otherwise offer them for purchase to an unlimited number of persons.

Pledge - property, documents that are the guarantor of the fulfillment of contractual obligations. If the debtor fails to fulfill the obligation secured by the pledge, the creditor has the right to receive satisfaction from the value of the pledged property.

Wage - monetary remuneration for work; part of the value of the good created by labor, the income from its sale, given to the employee by the enterprise, the institution in which he works, or another employer. The amount of wages is set either in the form of an official salary, or according to a tariff scale (rate), or in accordance with a contract, but cannot be lower than the level of the minimum wage established by law. The upper limit of wages in a market economy is usually not limited. The above applies to nominal wages.

Gold content of the monetary unit - the weight content of pure gold assigned to the national currency. Currently, the gold content is conditional.

Joint venture zone - region (part) of the national-state territory, in which joint entrepreneurship is carried out in various forms, in accordance with the adopted legislation. In these zones of the joint venture, special preferential regimes are introduced, which create attractive conditions for investment of foreign capital.

Free trade Area - a zone within which a group of countries maintains free, duty-free trade.

Treatment costs - costs of producers and consumers associated with the sale and purchase of goods.

Import - purchase and import of foreign goods, technologies and services into the country from abroad for their sale in the domestic market of the importing country.

Imported inflation - inflation caused by the impact of external factors - an extraordinary inflow of foreign currency into the country and an increase in import prices.

Capital- “everything that is capable of generating income”, or an invested, working source of income. Capital is subdivided into real (capital resources) and financial, on basic and negotiable.

Investment - cm. .

Capital intensity - the cost of fixed capital per unit of production. Capital intensity is determined by dividing fixed assets by the volume of production in monetary terms, produced in one year.

Capital resources (real capital) - all human-made means of production, including tools, industrial equipment and infrastructure.

Cartel - a form of monopoly, in which its participants, while maintaining production and commercial independence, agree among themselves on prices, market division, exchange of patents.

Quality goods - a product, the volume of purchases of which does not decrease with the growth of consumer income.

Quota -1.The tax rate attributable to a specific unit of taxation.2. The share of each of the cartel participants in the total

production and distribution.

TO export-import voting - setting the maximum permissible amount of goods for import into or export from the country.

Clearing - a non-cash settlement system based on the offset of mutual monetary claims. The goal is to ensure equality of commodity deliveries and payments between the two countries and their annual balancing. The balance of the clearing account, revealed as a result of imbalance in trade, is covered by the debtor country in the manner and within the time frame stipulated by the relevant intergovernmental agreement.

Command economy - a type of economic system in which the dominant decision-making method is centralized management.

Commercial Bank - a bank engaged in lending to industry and trade at the expense of monetary capital attracted in the form of deposits and by issuing its own shares and bonds.

Convertible currency - currency freely and unlimitedly exchanged for other foreign currencies. Currency conversion can be complete when the exchange is made for any foreign currency, and private, when the currency of a given country is exchanged only for some currencies and not for all transactions of international payment turnover.

Conglomerate - a type of monopoly, which is an association of enterprises belonging to various sectors of the economy and not linked by direct economic cooperation. The conglomerate is usually managed through a holding company.

Competitiveness - the ability of products to meet the prevailing requirements of this market in the period under review.

Competition - rivalry between producers (sellers) of goods for sales markets in order to obtain higher incomes, and in the general case between any economic entities for better results.

Consensus - general agreement, characterized by the absence of serious objections on material issues from the majority of stakeholders. Does not necessarily imply complete unanimity.

the contract - a contract, an agreement (usually written) that defines the mutual rights and obligations of the contracting parties.

Controlling stake - a share of shares concentrated in the hands of one owner and making it possible to exercise actual control over the joint-stock company.

Concentration of production - concentration of most of the industry output on several large enterprises in the industry.

Concern - unification of industrial, trade and other enterprises of various industries, banks, insurance companies and other financial and credit institutions under a single financial control.

Concession - an agreement for the commissioning by the state of private entrepreneurs, foreign firms of industrial enterprises or land plots with the right to extract minerals and build various structures.

Conjuncture - a set of features that characterize the current state of the economy in a certain period.

Leasing- long-term rental of equipment, machines, industrial facilities.

Liquidity - 1. The possibility of converting assets into money to pay liabilities on liabilities.2. Ease of implementation, sale, transformation of material values ​​into cash.

License - 1) granting organizations and individuals the right to use patented inventions, technologies, technical and commercial information;2) permission to carry out various types of activities within certain limits, issued by state bodies in relation to those types that need to be restricted, or to collect payments for the issued permit.

Export-import licensing - granting the exclusive right to import into or export from the country of a certain product.

Personal income - the amount of income actually received by the population after deducting from the national income the contributions of workers, employees and employers to the social insurance system, deducting income taxes and retained earnings, but with the addition of transfer payments, i.e. those payments that were received by the population, but not earned.

Broker- a broker on the stock exchange.

Macroeconomics - a section of economic theory that studies the economy as a whole or its elements combined into large groups.

Low-value goods - goods, the volume of purchases of which decreases with the growth of consumer income.

Marketing - system of organization and management of activities company aimed at ensuring maximum sales of its products, achieving high efficiency of export products, expanding market share.

Price scale - 1. The amount of gold or silver taken in country for the monetary unit and its multiples. 2. The technical function of money; means expressions of value in monetary units.

Material consumption - indicator of consumption of raw materials and materials for the production of a unit of any product. Expressed in natural units, in monetary terms or as a percentage, which make up the cost of materials in the general release products.

International division of labor - specialization of countries for the production of certain types of goods, for the manufacture which country has preferred conditions for compared with other countries.

International Bank for Reconstruction and Development (IBRD) - bank based - on the membership of states, which provides (and guarantees) loans to developing countries to secure their development [World Bank].

International Monetary Fund (IMF) - international association of states formed after World War II to provide loans in foreign currency to countries with temporary deficit in the balance of payments and for the implementation measures to maintain exchange rates.

International gold standard - in force in the XIX - early XX century international monetary system, in accordance with which, each country expressed the value of its monetary units in a certain amount of gold, provided the exchange banknotes for gold, maintained a constant ratio between her gold reserves and the mass of money in circulation and allowed free import and export of gold.

Manager - a hired manager with - professional knowledge of organization and management production.

Management - a set of principles, methods, means and forms of production management in order to increase production efficiency and increased profits.

Best enterprise size - the size of the enterprise, if where the average long-term costs reach a minimum.

Cash - the form of presentation of money, as a rule. V the form of banknotes. In Russia, banknotes are presented in in the form of banknotes and a small change.

Tax - a mandatory fee established by the state, paid by the enterprise, institutions and population, levied by the state by virtue of its right to a part of income without response services.

Value added tax - tax on the difference between the value of the goods sold by the firm and the value of the goods, purchased from other firms.

Tax breaks, tax incentives - partial or full exemption of individuals and legal entities from taxes.

National monetary system - form of organization money circulation in the country, which has developed historically and fixed by law.

National income - newly created (added) the value of the final goods produced in the economy during a certain period.

Unfinished production - partially finished products, requiring additional processing before its implementation.

Independent goods - goods that do not detect relationship of interchangeability and complementarity between yourself.

Intangible (intangible) assets - assets not having a physical natural company, but endowed with "intangible value" and by virtue of this, bringing the company additional income. This includes: trademarks and marks, trade secrets, publishing rights, patents, good reputation of the company, etc.

Insolvency - the financial position of the company, or states in which they cannot timely fulfill their financial obligations.

Non-production sphere - a set of industries and types activities to service the population and the national economy.

Imperfect competition - the situation on the market of any goods or services when individual sellers and / or buyers their actions can influence the market price good.

Forfeit - monetary determined by agreement or law the amount that the debtor is obliged to pay to the creditor in the event non-fulfillment or improper fulfillment of obligations.

Implicit costs - the costs of internal resources of the company, not recorded in monetary terms.

New International Economic Order - plastic bag proposals put forward by developing countries on fundamental changes in their relationship with the industrial developed countries; these proposals are aimed at accelerating economic growth in developing countries and redistribution of world income in their favor.

Denomination Nominal price - the cost indicated on the valuable papers, paper money, banknotes, coins.

Nominal GNP (GDP) - GNP (GDP), expressed in prices current year.

Know-how - set of different knowledge, scientific, technical, financial, production, commercial or otherwise administrative, character, experience, practically used in the activities of the enterprise or in professional activities, but which have not yet become public domain.

Bond- a security reflecting a loan relationship and giving its holder (owner) income in the form of a fixed percent of its face value.

Exchange - an economic transaction for the transfer of goods by one economic entity to another with receipt of money in return or other goods.

Working capital - capital involved and fully consumable during one production cycle

Total (cumulative) utility - degree of satisfaction from consumption of all goods and services for a certain period time.

Overall production profitability - attitude balance sheet profit to average annual cost production fixed assets and standardized working funds.

Public and religious organizations (associations) - voluntary associations of citizens, in the manner prescribed by law, united on the basis of their community of interests to meet spiritual or other non-material needs. Public and religious organizations are non-profit organizations, that is, they have the right to carry out entrepreneurial activities only to achieve the goals for which they were created and corresponding to these goals. Participants (members) of public and religious organizations do not retain the rights to the property transferred by them to these organizations, including membership fees. They are not responsible for the obligations of these organizations, and the organizations are not responsible for the obligations of their members.

Public goods - a product or service to which the exclusion principle does not apply and the production of which is provided by the state, provided that they bring significant benefits to society.

Additional liability company - a company, the authorized capital of which is divided into shares of the sizes determined by the constituent documents; members of such a company bear subsidiary liability for its obligations with their property in the same multiple for all to the value of their contributions.

Limited liability company - a company, the authorized capital of which is divided into shares of the sizes determined by the constituent documents; members of a limited liability company are not liable for its obligations and bear the risk of losses associated with the activities of the company, within the value of their contributions.

Total income of the firm -

Common Market - removal of restrictions on the free movement of goods, capital, labor for a group of countries, for example, the European Community, which includes a number of developed Western European states.

Limited resources - insufficient resources to satisfy everyone's desires.

Oligopoly - a type of market of imperfect competition, dominated by several large producers (sellers) of the goods, which, by their actions, can influence the market price of the goods.

Oligopsony - the type of market of imperfect competition, dominated by several large buyers of the goods, which, by their actions, can influence the market price of the goods.

Optimal production volume - the value of production at which the total profit reaches its maximum value.

Organization of countries - oil exporters (OPEC) - an international cartel formed in 1970. thirteen oil-producing countries with the aim of controlling prices and setting quotas for oil exports by cartel members.

Main capital - a set of means of labor that function in the sphere of production in an invariable natural form during many production cycles and transfer their value to the newly created product in parts, as they wear out.

Public corporation - a joint-stock company, whose members can alienate their shares without the consent of other shareholders. Such a joint-stock company has the right to conduct an open subscription to the shares issued by it and their free sale under the conditions established by law and other legal acts. An open joint-stock company is obliged to publish an annual report, balance sheet, and profit and loss account for the public every year.

Branch of the economy - a group of enterprises producing identical or similar products.

Negative economies of scale - a situation when the level of average long-term costs increases with the growth of the enterprise.

Partnership- a joint venture of several persons (individuals, legal entities), each of whom participates in it not only with their capital, but also with their personal labor.

Passive - part of the balance sheet, reflecting the sources of formation of funds of an enterprise or institution and their purpose (own funds, loans from other institutions).

Passive balance of payments - the amount of excess payments made by the country abroad over the receipts into the country of funds from abroad.

Patent - 1) a document, a certificate issued to the inventor and certifying his authorship and the exclusive right to an invention;

2) a document containing a permit to engage in any craft or trade, subject to the fixed conditions and making a payment (patent fee).

Economy in transition - the state of society between different ways of regulating economic activity.

Floating (free) exchange rate - the price of a currency, which is established as a result of the interaction of supply and demand in free foreign exchange markets.

Solvency - the ability of the state, legal entity or individual to timely and fully fulfill its payment obligations arising from trade, credit or other transactions of a monetary nature.

Payment balance - the ratio of payments received by a given country from abroad (active part of the balance of payments) and payments made by it abroad (passive part of the balance of payments) during a certain period of time.

Purchasing power of money - the ability of a monetary unit to exchange for a certain amount of goods.

Utility - the degree of satisfaction from the consumption of a good or service, distinguish between general (aggregate) and marginal utility.

Creeping inflation - a slow, imperceptible rise in prices.

Full employment - 1. The use of all available resources by the economy for the production of goods and services;

2. Such a level of employment, when there is only frictional and structural unemployment, but there is no cyclical unemployment.

Full partnership - a partnership, whose members (general partners) form the authorized capital on a share basis, also manage and distribute profits, bear full property responsibility for the company's obligations, that is, they are responsible for obligations with all their property.

Full production - a situation where the resources required in production are used in the best way for them.

Positive economies of scale - a situation when with the growth of the enterprise the level of average long-term costs decreases.

Constant economies of scale - situation. When, with the growth of the enterprise, the level of average long-term costs does not change.

Consumer goods - goods and services intended for final consumption, for personal, family or household use.

Consumer balance - a state in which the structure of consumer budget expenditures provides him with the greatest overall utility from the entire set of consumer goods purchased by him.

Price ceiling - the legally established maximum price for goods and services.

Consumption - use, use, application of goods in order to meet needs. Distinguish between productive consumption - expenditure, use of resources in the production process, and non-productive, final consumption of goods by people, the population to meet social and personal needs.

Needs - all physical, social and spiritual human feelings of need (lack). In economic theory, the needs that are the incentive of economic activity are considered, that is, specific desires that are satisfied with the help of goods or services.

Product - tangible or intangible result of human labor (subject, scientific discovery).

Products - the entire amount of economic benefits produced over a certain period of time (in the world, in the country, in a branch of the economy, at an enterprise, by an individual employee).

Production area - a set of sectors of the national economy and types of activities that create material wealth in the form of products, energy, in the form of moving goods, storing products, sorting, packaging and other functions that are a continuation of production in the sphere of circulation.

Production - the process of creating economic benefits.

Proportional tax - a tax, the average rate of which remains unchanged with an increase or decrease in the taxpayer's income.

Protectionism - the economic policy of the state, aimed at protecting the national economy from foreign competition by introducing high duties on goods imported into the country, restricting or completely prohibiting import

individual goods.

Union - a group of hired personnel, united in an organization to protect their interests and improve their position.

Percent - the fee that the borrower must reimburse the lender for using the loan, loaned money or material values.

Direct financing - the type of transactions in the financial market, when borrowed funds are transferred directly from the lender to the borrower.

Direct taxes - taxes levied on the results of economic activity: directly on the income and property of the taxpayer.

Equilibrium (market) price - the price of a product, at which the amount of demand for it is equal to the amount of its supply.

Division of labor -Breakdown of the production process into a large number of specialized tasks (operations).

Rentier - a person who lives on interest on capital lent out or on income from securities.

Small coin -

Distribution - division of the produced economic product, income, profit into separate parts that have a targeted purpose, intended for transfer to separate funds, to individuals.

Regressive tax - a tax, the rate of which decreases with an increase in taxable income.

Rent - a certain income from capital, property or land that does not require entrepreneurial activity from its recipients.

Real wages - the amount of goods and services that a worker can buy with his cash wages; purchasing power of wages.

Real GNP (GDP) - GNP (GDP), expressed in prices of the year taken as the base year.

Regulatory function of prices - the ability of changes in prices to entail changes in the value of demand for products and resources, the volume of their supply and the distribution of economic benefits between market actors.

Most favored nation - an agreement providing for a reduction in import duties on goods of a certain country.

Reserve rate (reserve rate) - the established minimum percentage of deposit obligations that the bank is obliged to keep in the central bank or in its own vault.

Self-sufficiency - the principle of the operation of a self-supporting enterprise, in which it reimburses all its expenses from the proceeds from the sale of products.

Self-financing - a management system in which the association or enterprise covers all the costs of both simple and extended reproduction from its own sources.

freedom of choice - the use of material resources and money by their owners at their own discretion, the free right of workers to engage in any type of labor that they are capable of, and the use by consumers of their income for purposes that they deem preferable.

Freedom of entrepreneurship - the use by private firms of economic resources for the production of goods of their own choice and the sale of the produced goods in the markets that they themselves have chosen.

Freedom of trade - the absence of artificial (established by the government) barriers to trade between individuals and firms from different countries.

Free economic zone - a free trade zone, in which there are especially favorable economic conditions for foreign and national entrepreneurs.

Free goods - funds that satisfy any needs and are in excess of these needs. Free goods are not subject to economic activity.

Production cost - expressed in monetary terms, the current costs of the enterprise for the production and sale of products.

Seasonal fluctuations - an increase or decrease in the level of economic activity within one year due to the change of seasons.

Syndicate - a type of monopoly, which is an association of entrepreneurs, which undertakes the implementation of all commercial activities while maintaining the production and legal independence of its enterprises.

Velocity of money circulation - the number of purchase and sale transactions that the monetary unit in circulation serves during the year.

Mixed economy - a type of economic system in which it is impossible to identify the dominant method of making economic decisions.

Own - the belonging of material and spiritual values ​​to certain persons, the legal right to such belonging and economic relations between people regarding the belonging, division and redistribution of property objects; includes the rights of ownership, disposal, use. In property relations, the type of ownership of the means of production is of decisive importance: private or public.

Perfect competition - the situation on the market of any product or service, when none of the seller and the buyer, by their actions, can influence the market price of the good.

Specialization - concentration of production on relatively narrow areas, individual technological operations or types of products.

Demand - the amount of goods that buyers want and can buy at a specific price in a specific market at a specific point in time.

Comparative advantage in the production of goods A - the ability of a certain country to produce good A with less alternative cost than another country.

Average costs - costs per unit of manufactured products. Average costs are obtained by dividing total costs by the quantity of products produced. Since total costs are made up of total fixed and total variable costs, when total costs are divided by quantity, it turns out that average costs are also the sum of average fixed and average variable costs.

Average firm income - revenue per unit of manufactured products.

Urgent account - the type of bank account, the withdrawal of funds from which can be made after a certain period of time from the moment of its opening.

Loan - transfer of material values ​​or money by some parties to the loan agreement to others on terms of return and, as a rule, with payment of interest.

Refinancing rate - the percentage at which the Central Bank lends to commercial banks.

Stagnation - stagnation in production, trade and other spheres of the economy.

Stagflation - the state of the country's economy, characterized by stagnation in the development of inflationary trends, i.e. combination of economic crisis with inflation.

Loan cost - the amount that the borrower pays to the lender for using the loan. The main components of the cost of a loan are the interest rate, commissions and fees, and the insurance premium.

Strategic goods - goods (equipment, know-how technology), the export of which is prohibited, limited or controlled in order to prevent damage to the national security of the country - the owner of the goods.

Insurance - creation of special insurance funds at the expense of enterprises, organizations, citizens, designed to compensate for damage. Insurance is carried out by government agencies, insurance companies, companies. Insurance is a form of financial intermediation.

Subsidiary liability - unlimited liability for obligations, divided between the founders of the legal entity in proportion to their equity participation.

Consumer sovereignty - the ability of the consumer to influence the producer by buying the product or service that he wants to buy at the price he is willing to pay.

Customs Union - a common customs territory of two or more countries with a single customs tariff in relation to third countries and the complete abolition of duties in mutual relations.

Customs duties -

Customs - a government agency through which all imported and exported goods are required to be imported into the country and exported from the territory of the country for the purpose of their customs, control and collection of established customs duties and fees.

Rate - a system of rates that determines the amount of payments for retail services; system of rates of remuneration.

Hard currency - a currency that is stable in relation to its own denomination, as well as to the rates of other currencies.

Technology - the amount of knowledge that can be used to produce goods and services from economic resources.

Unitary enterprise -a commercial organization not endowed with the ownership right to the property assigned to it by the owner. Only state and municipal enterprises can be created in the form of unitary enterprises. A unitary enterprise is responsible for its obligations with all property belonging to it and is not responsible for the obligations of the owner of the property.

Unemployment rate -the proportion of the labor force not employed at any given time.

Standard of living -an indicator characterizing the average quantity and quality of goods and services consumed in the country.

Price level -the weighted average of prices paid for finished goods and services produced in the country.

Service -a kind of good, the production and consumption of which occurs simultaneously. Unlike a product, a service cannot be inherited and cannot be stored.

The charter -a set of rules that determines the organization, the order of activity of any persons or organizations.

Authorized capital -the initial amount of the capital of the company, determined by its charter and formed mainly from the proceeds from the sale of shares or through the contribution of shares by the founders.

Accounting for bills -purchase by a bank or a specialized credit institution of bills before the expiry of their liquidation. When accounting, the bank pays the holder ahead of schedule the amount for which the promissory note was issued, minus the interest, the amount of which is determined taking into account the existing interest on the loan capital, depending on quality and term of the bill.

Discount interest, discount rate -a fee charged by banks for advancing money by purchasing (accounting) bills of exchange, securities, stocks and bonds, and other debt obligations before the due date for them.

Production factors -

Individual -a person as a bearer of civil rights and obligations.

Fixed exchange rate -currency price, which is established by a decision of any government agency. At the same time, as a rule, the purchase and sale of currency is limited and is carried out only at this price.

Financial intermediaries - financial institutions engaged in the accumulation of funds of individuals and legal entities with their subsequent provision of loans and placement on the securities market.

Financial capital -capital in cash.

Finance -a set of economic relations in the process of creating and using centralized and decentralized funds of funds.

Firm -an economic, industrial or commercial enterprise that enjoys the rights of a legal entity.

Foundations (charitable and others) -a non-profit organization without membership, established by citizens and (or) legal entities on the basis of voluntary property contributions, pursuing social, charitable, cultural, educational or other socially useful goals. The property transferred to the foundation by the founders is the property of the foundation. The founders are not responsible for the obligations of the foundation, and the foundation is not responsible for the obligations of the founders. The foundation is obliged to publish annually reports on the use of its property.

Freidchaising -a license issued by firm A to firm B, giving it the right to act on behalf of firm A. In this case, firm B is obliged to carry out its business only in the form prescribed by firm A, for a certain time and in a certain place. In turn, firm A undertakes to supply firm B with goods, technology, and provide all kinds of assistance in business.

Return on assets -an indicator characterizing the efficiency of the use of fixed capital for the production of goods. It is calculated by dividing the output by the cost of the spent fixed assets (fixed capital).

Business partnerships and companies -commercial organizations with authorized capital divided into shares of founders.

Allocate:

Full partnership

Limited partnership

Limited liability company

Additional liability company

Closed and open joint stock companies .

Holding, holding company - a company, a parent company that manages the activities or controls the activities of other enterprises, companies. In foreign practice, the holding company occupies a leading position due to the possession of a block of shares in enterprises and firms controlled by it. In this case, the holding company itself may not be engaged in its own production activities.

Price -monetary expression of the value of goods, an indicator of its value.

Securities -documents containing property rights giving the right to receive a certain part of the income. Represented by stocks, bonds, bills.

Central bank -the main state bank of the country, endowed with special functions: the right to issue banknotes and regulate the activities of commercial banks.

Private property -the right of individuals and firms to acquire, own, control, use, sell and bequeath land, capital and other assets.

Receipt -a monetary document of the established form containing an unconditional order of the drawer to a credit institution to issue the amount specified in it to the holder of the check.

Economy -social economy, which is the unity of production, distribution, exchange and consumption.

Economic integration -unification of countries pursuing common economic goals, while maintaining political independence.

There are the following stages of integration:

free trade Area,

Customs Union,

Common Market,

economic union.

Economic freedom -the right of individuals to make economic decisions.

Economic system -a set of laws, institutions, types of human activity and values, its defining and motivating factors, which is the basis for making economic decisions. There are the following types of economic systems: traditional, command, market and mixed economies.

Economic theory -a social science that studies the choices people make using limited resources to meet their needs.

Economic efficiency -an indicator characterizing the effectiveness of the use of limited resources to meet needs.

Economic benefits -goods that are limited in relation to the needs for them, the production of which is associated with costs, and which therefore have a price in the market. Economic goods are divided into goods and services.

Economic costs - "Opportunity cost" , the benefits that could be obtained from the best alternative use of the resource.

The economic costs add up from and implicit costs.

Based on the dependence on the volume of production costs (total) are divided by permanent(do not depend on the amount of output) and variables(grow with the increase in output).

The economic growth -an increase in the scale of aggregate production and consumption in the country, characterized by such macroeconomic indicators as gross national product, gross domestic product, national income.

The economic growth measured the rate of growth or growth of these indicators for a certain period of time (the ratio of indicators at the end and at the beginning of the period or the ratio of the growth of the indicator to its initial value).

Depending on the sources of economic growth distinguish extensive and intensive the economic growth.

Economic union -the stage of economic integration, which implies the removal of restrictions on the free movement of goods, capital, labor between the participating countries, a unified monetary system, the coordination of economic policies of the participating countries.

Economic cycle -repeated ups and downs in the level of economic activity over a number of years.

Export -sale or export of goods, technologies and services abroad for their sale in the external market.

Extensive economic growth -increase in total output by attracting additional resources without increasing the efficiency of their use.

Price elasticity of demand -an indicator characterizing the degree of change in the value of demand for a certain change in price.

Elastic demand -demand, which tends to fluctuate significantly depending on minor price fluctuations.

Embargo -the prohibition by the state authorities of the import into or export from the country of currency, gold, goods, securities.

Emission -issue of banknotes in all forms. The issue of securities can be private (issue of shares and bonds by joint stock companies) and government (issue of government loan bonds).

Issuer -the institution or enterprise that produces the issue.

Efficiency in production -a situation where it is impossible to increase the production of one product without reducing the production of another.Conditions for achieving efficiency in production -full employment of resources and full production.

Distribution efficiency -a situation where a change in the distribution of goods cannot increase the pleasure of consuming one person without diminishing the pleasure of another.

Entity -organization, company that meets the following criteria established by the legislation of the respective country:

a) independence of the existence of a legal entity from its constituent individuals, which may change;

b) the presence of his own isolated from its participants;

v) the right to acquire, use and dispose of property;

G) the right on its own behalf to be a plaintiff and a defendant in court and arbitration;

e) independent property responsibility.

Explicit (accounting) costs -direct cash costs for the purchase of resources by the firm from outside.

ESTABLISHMENT OF EDUCATION OF THE FEDERATION OF TRADE UNIONS OF BELARUS INTERNATIONAL UNIVERSITY "MITSO"

DICTIONARY OF MODERN ECONOMIC TERMS

R e c e n s:

Doctor of Economics, Professor, Head of the Department of Economic Theory and Economic Education of the BSPU named after Maxim Tank L. N. Davydenko; A.I. Kuradovets, Ph.D.

Dictionary of modern economic terms / comp. S48 A.I. Bazyleva [and others]. - Minsk: Intern. un-t "MITSO", 2012. -

ISBN 978-985-497-155-1.

The dictionary contains terms and concepts of a market economy used in modern economic theory and practice. The terminology covers general economic, budgetary, financial, trade, currency, tax issues. The most important problems of international economic relations are considered: globalization, regionalization, transnational capital and international institutions, free economic zones, international transport corridors.

The dictionary is addressed to MITSO students for practical use in preparation for classes, SORS, exams, testing, course and state exams, as well as everyone interested in economic problems.

UDC 33 BBK 65ya2

ISBN 978-985-497-155-1 © International University "MITSO", 2012

INTRODUCTION

V The conditions of the transition of the Republic of Belarus to a market economy, the development of entrepreneurship and business, the formation of a socially oriented society requires the creation of conditions for a qualitatively new system of economic education and economic education of youth. Along with the knowledge that students receive from monographic literature, textbooks, teaching aids, they must master new terms and concepts associated with the introduction of market relations. This is especially true for students of economic universities and economic specialties.

V The educational institution of the Federation of Trade Unions of Belarus International University "MITSO" is training in the following specialties: "Management", "Economics of Enterprise Management", "Marketing", "Finance and Credit", "Logistics", "World Economy".

Students of these specialties need to know not only the essence of the basic economic terms that characterize the market economy, but also the new content of known concepts. The Dictionary of Modern Economic Terms compiled by the teachers of the Department of World Economy and Finance of the UO FPB of the International University "MITSO" will be able to help students in mastering modern economic terminology.

The main task of the Dictionary is to help university students in preparation for practical and seminars, SORS, exams, testing, tests, course and state exams.

V The dictionary lists in alphabetical order the basic concepts and terms of economics, economic doctrines, economic models, property relations, basic concepts of a market economy.

The terminology on the issues of microeconomics is given, including such concepts as demand, supply, market equilibrium, elasticity of supply and demand, organizational and legal forms of enterprises. Considerable attention is paid to the interpretation of the terms of macroeconomics: national economy; system of national accounting; forms of the national product; national wealth; aggregate supply and demand; macroeconomic instability; money market; fiscal and monetary policy. In the conceptual aspect, finances, the state budget and its functions, taxes, etc. are considered.

The work of the Department of World Economy and Finance on the publication of the Dictionary was carried out on the basis of taking into account its major specialties "Finance and Credit" and "World Economy". In this regard, it presents models of words that are most important for their functioning in the modern economic sphere: finance, banks and business; borrowing and lending; asset Management; securities market, etc.

V The dictionary examines the basic concepts of international economic relations that arise between states, regions, companies, financial groups and other participants in economic processes. The basic concepts of international relations are considered, both separately in the financial, commercial, industrial sense, and in terms of economic, including labor relations.

V in the modern world, globalization is especially relevant

and regionalization of international economic relations. The dominant role in establishing the world economic order belongs to transnational capital and international institutions, among which the World Bank and the International Monetary Fund (IMF) are of economic interest. As a result of the international division of labor, the world poles of economic and technological development (North American, Western European and Asia-Pacific). The Dictionary reflects urgent problems of international economic relations: the creation of free economic zones and international transport corridors; internet economy; private and foreign investments, which are of great importance in the development of the economy. Also included are the most common terms and economic concepts associated with market relations.

, candidate of economic sciences, professor;

, Master of Science in Economics, Senior Lecturer;

, Candidate of Historical Sciences, Associate Professor;

, candidate of economic sciences, associate professor;

, Master of Economics, Senior Lecturer.

ABANDON - waiver of debt claims, voluntary abandonment of property, exit from the transaction by paying a fine; waiver of the policyholder from his rights to the insured property in favor of the insurer for the purposes of

receiving from him the full insurance amount.

ABSOLUTELY INELASTIC DEMAND - the amount of demand

sa, which does not change with price changes.

ABSOLUTELY ELASTIC DEMAND - the slightest decrease in price, which leads to an increase in the amount of demand to infinity.

ABSOLUTE POVERTY- a situation when the population or part of it is able to meet the most minimal needs for food, clothing and housing, that is, needs that support life.

ABSOLUTE AND COMPARATIVE ADVANTAGES IN INTERNATIONAL TRADE THEORY - teachings of the classics of English political economic thought Adam Smith and David Ricardo. According to Smith, absolute advantages in international trade are created by the ability of a country to produce any the product is more efficient (per unit cost) than in another country. Benefits are determined by the difference in absolute production costs (the number of people required to make a unit of goods) in each country. Ricardo considered Smith's position to be true, but a special case. Possession of an absolute advantage does not necessarily mean that the product is efficiently exported to another country that may have a comparative manufacturing advantage. The country must specialize in the production and export of those goods that can be manufactured at relatively low cost. Imports should be dominated by goods with relatively high production costs. As a result, the structure of foreign trade should be determined by comparative rather than absolute advantages.

ABSTRACT- abstraction from the insignificant, highlighting the most important facts and relationships in the economy.

AVAL - a bill of exchange, by virtue of which the avalist who gave it takes responsibility for the fulfillment of obligations by any of the persons obliged by the bill of exchange (acceptor, drawer, endorser). A. can be accepted for the entire amount of the bill or for a part of it.

ADVANCE - an amount of money or other value given in advance against forthcoming payments for property, work performed and services rendered.

ADVANCE - an economic operation in which the money spent on production goes through various phases of the circulation of value, returning to its starting point with an increment in the form of the value of the surplus product.

AVIZO is an official notification of changes in the state of mutual settlements, money transfer, goods dispatch, etc., sent by one counterparty to another. Banks notify their clients with the help of A. about debit and credit entries on accounts, about account balances, about payment of transfers, issuing a check, opening a letter of credit. A. usually indicates its number, date of departure, the content of the operation, amount, payer, recipient, their account numbers and other data.

AUTARKIA [gr., Self-satisfaction] - political and economic isolation of the state, aimed at creating a closed national economy, that is, relying on its own resources. Economic autarchy is the independent development of an economy that ignores the international division of labor and international trade.

AUTOMATIC ADJUSTMENT - macroeconomic

ical adjustment as a result of the actions of economic laws.

AUTOMATIC STABILIZERS - economic mechanisms that automatically reduce the amplitude of fluctuations in incomes and prices, softening the reaction of the level of gross national product to changes in aggregate demand without any direct intervention of government, firms or individuals. One of the most important stabilizers is a progressive income tax.

AUTOMATIC EFFECTS- changes in income not directly dependent on the government due to changes in the tax base. For example, an increase in the value of imports leads to an increase in income from import duties.

AUTONOMOUS INVESTMENT- planned com-

purchase investment costs, independent of the level of income in the economy.

AVOIRS - 1. assets (cash, checks, bills of exchange, transfers, letters of credit), due to which payments are made and liabilities are extinguished; 2. deposits of individuals and organizations in banks, which they can dispose of; 3. the bank's funds in foreign currency, securities and gold kept in custody in foreign banks.

TAX AGENT - a person who is responsible for calculating and paying taxes to the budget.

TRADING AGENT - a legal entity or individual performing legal actions (concluding transactions) at the expense and in the interests of another person (principal).

EMPLOYMENT AGENCY - an enterprise, acting

acting as an agent on behalf of companies looking for workers and on behalf of people looking for work. Compiles lists of vacancies provided by potential employers, lists of job seekers. In addition, it can advertise jobs and recruit staff.

MONEY UNIT- types of money and monetary funds that differ from each other in the degree of liquidity, that is, the ability to quickly convert into cash.

AGGREGATION - consolidation of economic indicators by combining them into a single group. It is carried out by summing, grouping or other methods of bringing private indicators into generalized ones.

ADAPTATION - the adaptation of the economic system and its individual subjects, workers to the changing conditions of the external environment, production, labor.

ADVALORY - value, calculated in the form of a fixed percentage of the total value of goods, transactions (tax, commission, customs duty, etc.).

ADMINISTRATIVE-TEAM SYSTEM - the system of management of the country's economy, in which the leading role belongs to distribution, command methods and power is concentrated in the central governing body, in the bureaucratic apparatus. It is characterized by targeted directive planning. Contradicts democratic principles of governance, hinders the development of a free market, competition, entrepreneurship.

ADMINISTRATIVE-TERRITORIAL DIVISION -

division of the territory of the state into regions, districts, provinces, provinces, departments, etc., in accordance with which the system of local government bodies is built and operates.

ADMINISTRATIVE MANAGEMENT METHODS - the way

events and forms of management, which are based on bare administration, management based on orders, orders issued from the top of the installation.

ASIAN-PACIFIC ECONOMIC CO-

EMPLOYMENT (APEC)- a regional grouping created in 1989. The union includes the states of the Pacific Ocean basin,

very different in terms of the level of socio-economic development. In 1995, a Program was adopted that provides for the creation of a free trade and investment zone by 2010 for industrialized countries and by 2020 for developing countries.

AKVISITOR - an insurance employee engaged in the conclusion of new contracts and the renewal of early terminated contracts.

AKVITENS is a document exempting from financial responsibility.

LETTER OF CREDIT - an order from a bank to one or several banks to make, by order and at the expense of the client, payments to an individual or legal entity within the specified amount on the terms specified in the letter of credit.

ACCUMULATION - accumulation, collection.

ACT is an official document with legal force. ACT OF AUDIT is an official document with which to draw up

The results of a survey of the financial and economic activities of an organization, a firm by the body conducting the audit are presented.

ACTIVE OPERATIONS OF BANKS - operations through which banks allocate resources at their disposal.

ASSETS - a set of property rights (property) belonging to an individual or legal entity in the form of fixed assets, intangible assets, inventories, cash, financial investments; the left side of the balance sheet of the enterprise.

COMPANY ASSETS- property of the enterprise, consisting of tangible, financial, non-property assets. The tangible assets of the enterprise include land plots (owned and used), buildings and structures for production and non-production purposes, other buildings and structures on the balance sheet of the enterprise, equipment, inventory, raw materials, products, etc. Financial assets of the enterprise include cash on hand, deposits in banks, deposits, checks, investments in other securities, commercial loans, shares in other commercial organizations, portfolio investments in shares of other companies, etc. products, works and services (brand name, trademarks, service marks, other exclusive rights).

FINANCIAL ASSETS- a set of financial instruments accumulated on a certain date by legal entities and individuals (cash on hand, checks, cash documents, securities, etc.).

ACTUARY CALCULATIONS- a system of mathematical and statistical calculations used in insurance. They reflect the mechanism of formation and spending of the insurance fund in long-term insurance operations related to the life expectancy of the population. A. r. are based on determining the likelihood of an insured event

v depending on the age of the insured. The rates are determined on the basis of actuarial calculations.

ACCEPT is one of the forms of obligations for the implementation of non-cash payments between economic entities for the delivered products, services rendered or work performed, providing for the receipt of the buyer's consent to pay for the products.

ACCEPTANT - a person who accepted the offer and thereby consented to the conclusion of the contract.

EXCIS is a type of indirect tax, mainly on consumer goods and services. A. is included in the price of goods or tariffs for services and transferred to the state budget.

SHAREHOLDER is a member of a commercial organization created

v form of a joint stock company, owning shares of this company, which confirm the amount of his contribution to the authorized capital. The rights and obligations of shareholders, including the right to participate in the management of a joint-stock company, as well as to receive dividends, are determined by the legislation on joint-stock companies, as well as the charter of the company.

JOINT-STOCK COMPANY- commercial organization

v the form of a business company, the authorized capital of which is divided into a certain number of shares with the same par value. The participants of the joint-stock company (shareholders) are not liable for the obligations of the company and bear the risk of losses associated with the activities of the company, within the value of the shares they own. Shareholders who have not fully paid for the shares are jointly and severally liable for the obligations of the joint-stock company within the unpaid part of the value of their shares.

A SHARE is a perpetual issue-grade security that testifies to a contribution to the statutory fund of a joint-stock company and certifies the rights of its owner to participate in the management of this company, to receive part of its profit in the form of dividends and part of the property

or its value after settlement with creditors in the event of the liquidation of the joint-stock company. A. can be issued simple (ordinary) and privileged.

PRIVILEGED PROMOTION- a security that gives its owner the right to receive a dividend as a fixed percentage, on the share of property in the liquidation of the company, but does not give the right to vote in the management of the company.

THE SHARE IS SIMPLE, but it’s a security that certifies the owner’s rights to receive part of the company's profit in the form of a dividend, to participate in the management of the company and to share the ownership of the joint-stock company upon its liquidation.

ALIENATION - alienation, mortgage, sale, transfer. ALTERNATIVE PRICE- labor time required to produce a unit of one commodity, expressed in terms of labor

the time it takes to produce a unit of another good.

ALTERNATIVE COSTS, a al tern at and in now from the hold -

k and, t e for a choice - the number of benefits that must be abandoned in order to receive another benefit. The opportunity cost of using any resource, product, or service is the cost of the next best alternative.

AMNESTY TAX- release of the person who committed a tax violation from liability for this violation.

AMORTIZATION - a gradual decrease in the value of fixed assets (structures, machinery, equipment) due to their deterioration, as well as a gradual transfer of the value of fixed assets to manufactured products in order to accumulate funds for their renewal; the gradual repayment of debt by an individual or organization through periodic contributions or redemption of liabilities; recognition of a debt obligation as invalid due to its loss, theft.

ANALYSIS - 1. dividing the research object into separate elements, into simpler economic phenomena and processes; 2. highlighting the essential aspects of phenomena and processes.

BALANCE ANALYSIS - a comprehensive assessment of the balance sheet, profit and loss accounts, as well as a report on the state of the organization (firm) and annexes to the report.

ANALYTICAL METHOD- a general term meaning a set of private methods of studying economics, including analysis and synthesis, abstraction, the assumption "other things being equal",

Economics as a Science

"Economics is the science that studies human behavior in terms of the relationship between goals and limited means that allow for alternative uses." Economic theory is closely related to many other sciences: philosophy, psychology, history, demography, statistics, mathematics, jurisprudence, etc. From the point of view of the object of research, the sections of economic theory can be conventionally designated as "microeconomics" and "macroeconomics". Microeconomics is the analysis of the causes, patterns and consequences of the functioning of individual entities in a market economy (for example, an industrial firm, a family farm, etc.). Macroeconomics examines the aggregate indicators of income, employment, price dynamics, determines the patterns of state economic policy.

Economic needs, resources and benefits

In turn, the economic benefit is material and non-material items, or rather the property of these items, capable of satisfying economic needs.

A resource is a means that allows you to obtain the desired result with the help of certain transformations.

Resources are subdivided into: - economic (functioning) - potential (not involved in economic turnover)

Economic resources include: - natural resources - labor (population of working age) - material (all man-made means of production that are the result of production) - financial (money that society is able to allocate for the organization of production) - information (scientific, scientific technical, design, statistical, technological, informational information, as well as other types of intellectual values ​​necessary to create an economic product)

Elasticity of demand

Elasticity of demand allows you to measure the degree of customer reaction to changes in prices, income levels or other factors. Calculated using the coefficient of elasticity.

Distinguish between price elasticity of demand and income elasticity of demand.

Price elasticity of demand shows the percentage change in the value of demand when the price changes by 1%. The following factors influence the price elasticity of demand:

· Availability of competing products or substitute products (the more there are, the greater the opportunity to find a replacement for the more expensive product, i.e. the higher the elasticity);

· Invisible for the buyer change in the price level;

· Conservatism of buyers in tastes;

· The time factor (the more time a consumer has for choosing a product and thinking, the higher the elasticity);

· The share of the product in the consumer's income (the greater the share of the price of the product in the consumer's income, the higher the elasticity).

Depending on these indicators, a distinction is made between:

Inelastic demand (Ep (D)< 1) – рыночная ситуация, при которой изменение цены на 1 % вызывает незначительное изменение объема (QD).

· Elastic demand (Ep (D)> 1) - a market situation in which a change in P by 1% (Dp = 1%) causes a significant change in QD.

· The unit elasticity demand (Ep (D) = 1) is a market situation in which a 1% change in price causes a 1% change in QD.

· Absolutely inelastic demand, meaning the absolute insensitivity of the volume of demand to price changes Ep (D) = 0): a change in P by 1% or more does not affect the change in QD.

Income elasticity of demand shows the percentage change in the amount of demand when income changes by 1%. It depends on the following factors:

· The importance of the product for the family budget.

· Whether the product is a luxury item or a necessity.

· Conservatism in tastes.

By measuring the income elasticity of demand, you can determine whether a given product is classified as normal or low value. Most of the consumed goods are classified as normal. As income grows, we buy more clothes, footwear, high-quality food products, and durable goods. There are goods for which demand is inversely proportional to consumer income. These include all secondhand products and some types of food (cheap sausage, rotten apples).

Market, market system and their variety

The market is a collection of transactions for the purchase and sale of goods. The market in its development has passed a path that lasts more than 30 thousand years. The very first definition of a market is an area, a public place for the purchase and sale of goods, i.e. goods and services. The market is a system of relations between buyers and sellers, i.e. it is a system of relations between supply and demand. Conditions for the emergence of the market: 1 The needs of people in goods. 2 Limitedness of all resources of production - labor, land and other material means of production. 3. Social division of labor, which increases the efficiency of production and creates a material basis for commodity exchange. 4. The economic isolation of commodity producers within the framework of ownership - initially communal, and then private. 5. The independence of commodity producers, his freedom as entrepreneurs. Market functions: 1 Informational. Its essence lies in the fact that the market, like a computer, collects, processes and transmits and issues information within the economic territory that it covers. 2. Intermediary. The market unites economically separate producers and consumers into a single system. As a result, sellers and buyers find each other. 3. Regulatory. The market provides answers to the questions: What to produce? How to do it? Who is it for? 4. Pricing function. The market recognizes only socially necessary costs and, accordingly, social prices, which reflect the needs of the buyer. Stimulating. The benchmark of market prices for the social level of costs, for taking into account the demand of consumers, encourages the product manufacturer to save its individual costs and present to the market the goods that the buyer needs. Constructively destructive. The market ensures the change in all economic proportions between industries and regions. A vivid and vivid example of this is the restructuring of the economy in Russia. 7. Improving function (cleaning the market from uncompetitive manufacturers) 8. Differentiating. The market enriches some producers and ruins others.

There are 2 types of communication between market agents: A market transaction can be viewed from the economic point of view, in the form of an act of commodity-money circulation. The economic interest of the seller is to exchange the goods for the corresponding amount of money, and the buyer is to purchase the useful thing he needs for money. And from the legal point of view, a market transaction means an action of citizens and legal entities that takes the form of a purchase and sale agreement. There are markets: local (market within a village, city), national, world. From the point of view of economists, there is a market for resources and consumer goods. In turn, they are subdivided into the consumer market, the market for the means of production, the market for land, real estate, labor, services, currency, insurance, information.

Money, functions of money

The essence and function of money. In modern economic theory, the following 4 functions of money are distinguished: 1. A medium of circulation when money is used to buy goods and services. Money here acts as a technical means through which the exchange of goods and services is carried out. As a medium of circulation, money is absolutely liquid, i.e. quickly realizable in economic life. 2. A measure of value when money is used as a unit or scale for measuring the relative prices of dissimilar goods and services. Money is used as a unit of account for the valuation of goods, services, assets. The value of goods is expressed in prices, and prices are measured in terms of money. 3. A store of value. As the most liquid property, money is a very convenient form of wealth storage; money is withdrawn from circulation and acts as a store of value. In the early stages of the development of a commodity economy, such withdrawal of money from circulation turned it into a treasure, a treasure. 4. Instrument of payment. In this function, money, first of all, serves credit relations and acts as a medium of exchange, as well as a measure of value. Money as a means of payment functions when goods are sold on credit and outside the sphere of commodity circulation.

Entrepreneurship

Entrepreneurship, business- an independent activity carried out at its own risk, aimed at the systematic receipt of profit from the use of property, the sale of goods, the performance of work or the provision of services by persons registered in this capacity in the manner prescribed by law. The efficiency of entrepreneurial activity can be assessed not only by the size of the profit received, but also by the change in the value of the business (the market value of the enterprise). Entrepreneurship, business is the most important attribute of a market economy, permeating all its institutions.

It can be carried out by a legal entity or directly by an individual. In Russia, as in many countries, in order to conduct business, an individual is required to register as an individual entrepreneur.

Entrepreneurship can be done in different areas. In addition to general entrepreneurship, social and technological entrepreneurship is distinguished. Sources of start-up capital for starting a business can be: loans (debt financing - in a bank or from friends), gratuitous assistance (grants or subsidies), investments (venture funds or business angels - equity financing). In addition, there are government and public organizations, technology parks and business incubators to help start-up entrepreneurs. However, entrepreneurship is not easy, and most new businesses fail.

The owners of a joint stock company are the holders of the shares. These are people who have agreed to add an amount of money to the company's capital in exchange for a share of the profits. The share capital is divided into shares, for example, 1,000 rubles each. These shares can be traded.

SINKING FUND- money that is gradually accumulated to pay for the purchase of new equipment in the future.

DEMAND- the amount of money that buyers are willing to pay for goods at a certain price level for them.

LOAN PERCENTAGE- the size of the monetary payment for the right to temporarily use the borrowed money.

INSURANCE- an agreement that the insurance company will pay the person or company insured with it a certain amount of money if an accident happens to him. To be eligible for such a payment, the insured must deposit a certain amount of money with the insurance company in advance - much less than what he could receive in case of an accident.

CUSTOMS DECLARATION- a document filled in when transporting goods or property across the border of the country. On the basis of this document, it is decided whether it is possible to pass this product across the border and how much its owner must pay to the state for this.

SHADOW ECONOMY- activity for the production of goods or the provision of services, which is carried out without registration with state bodies. This is done in order to avoid paying taxes, or because the very nature of this activity is prohibited by law (for example, selling drugs).

PARTNERSHIP- two or more people jointly owning and managing a commercial firm.

COMMODITY EXCHANGE- a market where wholesalers buy and sell goods.

TRADEMARK is a brand name that helps customers remember the manufacturer and re-search exactly for his products. If a company wants to have its own trademark, it must register it with a special organization.

COMMODITY TURNOVER- this is the name of a situation in which goods are made for sale, and the money received from this is invested in organizing the production of new goods.

TRADE WAR- economic rivalry between firms from different countries, leading to restriction of rights to import goods from a "hostile" country. Previously, trade wars were usually accompanied by real hostilities.

TRADING DISCOUNT- the manufacturer's payment to the merchant for organizing the sale of the goods made by him.

UTOPISTS- scientists who believed that it was possible to design an ideal society and build it in real life.

FINANCIER- a person whose main source of income is the provision of money for the organization of commercial activities of other citizens or firms. In addition, financiers are involved in organizing the collection of revenues and the implementation of expenses of firms and the state.

SELF CALCULATION- a way to organize the activities of enterprises in countries with public ownership on the basis of some of the same principles that are used in countries with a predominance of private ownership.

PRICE- the total amount of money that must be paid in order to receive a product or service.

PRIVATE PROPERTY- property of any kind, belonging to an individual or an association of people, and the size of the property of each owner is precisely known, and he can do whatever he wants with his property: sell, donate, bequeath to children.

A CHECK is a substitute for money, in the form of an order to the bank to pay money to the one who brings this check to the bank. A check can only be written by someone who previously deposited an amount of money in this bank and received a checkbook from the bank.

ECONOMIC INTERESTS- the aspirations of people in the field of economics, usually aimed at making their lives more comfortable and reliable.

ECONOMIC REGULATORS- methods of non-team management of the activities of people and commercial firms based on their economic interests.

EXPORT OF GOODS- export of goods manufactured in a given country outside its borders for the purpose of selling to citizens and firms of other countries.

EMBARGO- a ban on the export of goods to certain countries. EMISSION - release of funds into circulation.

NSeconomics as a science

"Economics is the science that studies human behavior in terms of the relationship between goals and limited means that allow for alternative uses." Economic theory is closely related to many other sciences: philosophy, psychology, history, demography, statistics, mathematics, jurisprudence, etc. From the point of view of the object of research, the sections of economic theory can be conventionally designated as "microeconomics" and "macroeconomics". Microeconomics is the analysis of the causes, patterns and consequences of the functioning of individual entities in a market economy (for example, an industrial firm, a family farm, etc.). Macroeconomics examines the aggregate indicators of income, employment, price dynamics, determines the patterns of state economic policy.

NSeconomicallywhat needs, resources and benefits

In turn, the economic benefit is material and non-material items, or rather the property of these items, capable of satisfying economic needs.

Resource- means allowing, with the help of certain transformations, to obtain the desired result.

Resources are subdivided into: - economic (functioning) - potential (not involved in economic turnover)

Economic resources include: - natural resources - labor (population of working age) - material (all man-made means of production that are the result of production) - financial (money that society is able to allocate for the organization of production) - information (scientific, scientific technical, design, statistical, technological, informational information, as well as other types of intellectual values ​​necessary to create an economic product)

NSelasticity of demand

Elasticity of demand allows you to measure the degree of reaction buyer to change prices, income level or other factors. Calculated through coefficient of elasticity.

Distinguish elasticity demand price and income elasticity of demand.

Price elasticity of demand shows the percentage change in the value of demand when the price changes by 1%. The following factors influence the price elasticity of demand:

· Availability of competing products or substitute products (the more there are, the greater the opportunity to find a replacement for the more expensive product, i.e. the higher the elasticity);

· Invisible for the buyer change in the price level;

· Conservatism of buyers in tastes;

· The time factor (the more time a consumer has for choosing a product and thinking, the higher the elasticity);

· The share of the product in the consumer's income (the greater the share of the price of the product in the consumer's income, the higher the elasticity).

Depending on these indicators, a distinction is made between:

Inelastic demand (Ep (D)< 1) - рыночная ситуация, при которой изменение цены на 1 % вызывает незначительное изменение объема (QD).

· Elastic demand (Ep (D)> 1) - a market situation in which a change in P by 1% (Dp = 1%) causes a significant change in QD.

· The unit elasticity demand (Ep (D) = 1) is a market situation in which a 1% change in price causes a 1% change in QD.

· Absolutely inelastic demand, meaning the absolute insensitivity of the volume of demand to price changes Ep (D) = 0): a change in P by 1% or more does not affect the change in QD.

The income elasticity of demand shows how many percent the amount of demand will change when income changes by 1%. It depends on the following factors:

· The importance of the product for the family budget.

· Whether the product is a luxury item or a necessity.

· Conservatism in tastes.

By measuring the income elasticity of demand, you can determine whether a given product is classified as normal or low value. Most of the consumed goods are classified as normal. As income grows, we buy more clothes, footwear, high-quality food products, and durable goods. There are goods for which demand is inversely proportional to consumer income. These include all secondhand products and some types of food (cheap sausage, rotten apples).

Rmarket, system market and their variety

The market is a collection of transactions for the purchase and sale of goods. The market in its development has passed a path that lasts more than 30 thousand years. The very first definition of a market is an area, a public place for the purchase and sale of goods, i.e. goods and services. The market is a system of relations between buyers and sellers, i.e. it is a system of relations between supply and demand. Conditions for the emergence of the market: 1 The needs of people in goods. 2 Limitedness of all resources of production - labor, land and other material means of production. 3. Social division of labor, which increases the efficiency of production and creates a material basis for commodity exchange. 4. The economic isolation of commodity producers within the framework of ownership - initially communal, and then private. 5. The independence of commodity producers, his freedom as entrepreneurs. Market functions: 1 Informational. Its essence lies in the fact that the market, like a computer, collects, processes and transmits and issues information within the economic territory that it covers. 2. Intermediary. The market unites economically separate producers and consumers into a single system. As a result, sellers and buyers find each other. 3. Regulatory. The market provides answers to the questions: What to produce? How to do it? Who is it for? 4. Pricing function. The market recognizes only socially necessary costs and, accordingly, social prices, which reflect the needs of the buyer. Stimulating. The benchmark of market prices for the social level of costs, for taking into account the demand of consumers, encourages the product manufacturer to save its individual costs and present to the market the goods that the buyer needs. Constructively destructive. The market ensures the change in all economic proportions between industries and regions. A vivid and vivid example of this is the restructuring of the economy in Russia. 7. Improving function (cleaning the market from uncompetitive manufacturers) 8. Differentiating. The market enriches some producers and ruins others.

There are 2 types of communication between market agents: A market transaction can be viewed from the economic point of view, in the form of an act of commodity-money circulation. The economic interest of the seller is to exchange the goods for the corresponding amount of money, and the buyer is to purchase the useful thing he needs for money. And from the legal point of view, a market transaction means an action of citizens and legal entities that takes the form of a purchase and sale agreement. There are markets: local (market within a village, city), national, world. From the point of view of economists, there is a market for resources and consumer goods. In turn, they are subdivided into the consumer market, the market for the means of production, the market for land, real estate, labor, services, currency, insurance, information.

Dmoney, functions of money

The essence and function of money. In modern economic theory, the following 4 functions of money are distinguished: 1. A medium of circulation when money is used to buy goods and services. Money here acts as a technical means through which the exchange of goods and services is carried out. As a medium of circulation, money is absolutely liquid, i.e. quickly realizable in economic life. 2. A measure of value when money is used as a unit or scale for measuring the relative prices of dissimilar goods and services. Money is used as a unit of account for the valuation of goods, services, assets. The value of goods is expressed in prices, and prices are measured in terms of money. 3. A store of value. As the most liquid property, money is a very convenient form of wealth storage; money is withdrawn from circulation and acts as a store of value. In the early stages of the development of a commodity economy, such withdrawal of money from circulation turned it into a treasure, a treasure. 4. Instrument of payment. In this function, money, first of all, serves credit relations and acts as a medium of exchange, as well as a measure of value. Money as a means of payment functions when goods are sold on credit and outside the sphere of commodity circulation.

NSentrepreneurship

Entrepreneurship, business- independent, carried out at its own risk, activities aimed at systematic obtaining arrived from use property, sales goods, execution works or rendering services persons registered in this capacity in the established by law okay. The efficiency of entrepreneurial activity can be assessed not only by the size of the profit received, but also by the change in the value of the business (the market value of the enterprise). Entrepreneurship, business is the most important attribute market economy, permeating all its institutions.

Can be carried out legal entity or directly natural person... In Russia, as in many countries, in order to conduct business, an individual is required to register as individual entrepreneur.

Entrepreneurship can be done in different areas. In addition to general entrepreneurship, there are social and technological entrepreneurship... Sources of start-up capital for starting a business can be: loans (debt financing - from a bank or from friends), gratuitous assistance (grants or subsidies), investments (venture funds or business angels - equity financing). In addition, to help start-up entrepreneurs, there are government and public organizations, technoparks and business incubators. However, entrepreneurship is not easy, and most new businesses fail.

General and limited partnership

Among the types of business partnerships, a distinction is made between full partnership and limited partnership. Under full partnership means a commercial organization created as a result of combining persons and their property on the basis of an agreement concluded between them on joint entrepreneurial activity, the participants of which are responsible for its obligations with all their property. Fellowship on Faith- is a commercial organization created as a result of combining persons and their property on the basis of an agreement on joint entrepreneurial activity, in which some participants (general partners) are responsible for its obligations with their property, while others (investors) are not responsible for the obligations of this organization. In practice, both types of partnerships are extremely rare. Most entrepreneurs prefer to create limited liability companies and joint stock companies.

Limited liability company

Among business companies, the most common are limited liability companies (LLC). A limited liability company is a commercial organization created as a result of the consolidation of property by several persons who are not responsible for the obligations of this organization and have shares in its authorized capital.

Additional liability company(ODO), which has the same characteristics as LLC, with some exceptions. ALC participants are liable for the obligations of the company, but not with all of their property, but only with some of it, while in the same multiple for all to the amount of the contribution. For example, the charter says that ALC participants are responsible in double the amount. This means that if a participant made a contribution of 100 thousand rubles, then if the property of the ALC is not enough for settlements with creditors, he bears a maximum responsibility of 200 thousand rubles. In fact, ALC is a transitional form from a full partnership to a society as an economic organization.

There are two types of AO - Open Joint Stock Company(JSC) and closed joint stock company(COMPANY).

Public corporation

JSC is characterized by the fact that:

· Its members can alienate their shares without the consent of other shareholders, that is, this society is open to any participant in civil turnover. Any participant in the civil turnover can purchase shares of JSC, there are no restrictions here. At the same time, any shareholder at any time can sell his shares to any subject of civil law;

· OJSC can make an open subscription to shares according to the following algorithm: a joint-stock company is formed, an issue of shares is announced and registered, and anyone can purchase them on the stock exchange;

· The number of shareholders of JSC is not limited.

Closed joint stock company

ZAO is characterized by the fact that:

· Transfer of shares to the shareholders of the CJSC is limited by the preemptive right of purchase by other shareholders. Similar to the procedure for alienating shares in an LLC, you must first offer shares to other shareholders, and only if they refuse, you can sell shares to a third party;

· Shares in CJSC are distributed among a limited number of participants, between specific persons, and are not sold on the stock exchange;

· The number of shareholders in a CJSC should not exceed 50.

Mmanagement

Management- this is the ability to achieve goals, use labor, intellect, motives of behavior of other people.

Management- it is not so much the ability to analytically solve the assigned tasks, but the ability to work with people, to get the maximum result from them

Management- it is the effective and efficient achievement of the goals of the organization through planning, organization, leadership (management) and control over organizational resources.

Mmarketing

· "Marketing is a type of human activity aimed at meeting needs and demands through exchange" (founder of the theory of marketing Philip Kotler)

· “Marketing is art and the science choose the right target market, attract, retain and increase the number of consumers by creating confidence in the buyer that it represents the highest value for the company ", as well as" an orderly and purposeful process of understanding consumer problems and regulating market activities "(Philip Kotler) .

· "Marketing is the implementation of business processes in the direction of the flow of goods and services from the manufacturer to the consumer." ( American Marketing Association(AMA))

· "Marketing - system planning, pricing, promoting and disseminating ideas, goods and services to meet the needs, requirements and desires of individuals and organizations; advertising is just one of factors process marketing. "

WITHownership

Relationships regarding ownership of factors of production (means, objects of labor, information and intellectual resources, land and labor) have always played an important role in the organization and socio-economic nature of production. When considering property relations, it is necessary to highlight: 1) legal (legal) property relations; 2) economic property relations. Legal property relations characterize the attitude of subjects - citizens and the state to the objects of ownership (property). The legal powers of the owner are defined as the right to own (actually possess), use (extract useful properties for themselves) and dispose of property at their discretion, i.e. determine its legal fate, for example, sell, exchange, donate, inherit, pledge, rent, etc. Types of legal property relations depend on who is the subject of ownership: a) subjects of ownership - citizens. Among citizens, as subjects of property, property relations prevail, which are regulated by civil (private) law. Hence, the property of citizens was called private property. Due to the fact that citizens exercise their powers as owners in various forms, for example, entrepreneurial, socio-political, religious associations of citizens, then all these forms are governed by private or civil law. b) the subject of ownership is the state. Property in respect of which the powers of the owner are exercised by state bodies (for example, the State Property Committee of the Russian Federation) is defined as state property, if local government bodies, then property is defined as municipal (in cities, regions of the Russian Federation). Economic property relations characterize the relationship between the participants in production regarding the use of its factors. The nature of economic property relations is determined by the direction of the use of property income. If production is carried out in the interests of private individuals, then with regard to the production of goods, the form of economic relations of private property develops and private appropriation is presented. If production is carried out in the interests of the group, then we are talking about the economic relations of group (collective) appropriation. If production functions in the interests of society, then economic relations of public ownership and social appropriation are represented. In turn, the economic relations of collective property in relation to private property appear as a form of public property, and in relation to public appropriation - as private. Economic property relations occupy the main place in the entire system of production relations, thereby determining their nature, essential content. Legal property relations and economic property relations are closely related, the former coexist in laws and other regulations, the latter are formed between the participants in production. At the same time, legal and economic property relations also have an independent movement, therefore, it is unacceptable to directly deduce the former from the latter.

Ftype of property

Forms of ownership. There are 2 main subjects of ownership (citizens and the state) and, accordingly, two main forms of ownership: 1) private; 2) state. Private property is subdivided into: individual capitalist, collective property of the organizationally united capitalists. Individual private property was characteristic of the pre-monopoly era, and collective capitalist property is characteristic of the modern financial capitalist economy, which represents finance capital as a new entity. These forms of capitalist property are characterized by the division of capital into real (money, means of production, finished goods) and fictitious (securities - stocks, bonds). The individual capitalist is directly the private owner of only fictitious capital, while real capital functions as the property of the corporation. As the productive forces develop, the forms of private capitalist property also undergo further evolution: the individual form of private property is increasingly being supplanted by group and state property. The economic importance of state property has increased especially. In the developed capitalist countries, an ever-increasing part of money and productive capital is concentrated in the ownership of the state.

Ras state control, privatization

Denationalization is the transformation of state property into other forms of ownership. The transition to a market economy in Russia required the introduction of real competition, which is possible in conditions of denationalization and feasible with the expansion of the share of private property. For this purpose, a part of state enterprises was privatized in Russia. Privatization is the process of acquiring the ownership of citizens or their associations of all or part of the shares of joint-stock companies, partnerships and enterprises. In Russia, privatization began in October 1992 and took place in two stages. The first stage was voucher privatization. From July 1, 1994 - the second stage of privatization, during this stage the property of state and municipal enterprises was sold for money. The purchase and sale procedure includes three types of privatization: commercial competition, non-commercial competition and auction. Privatization, as previously assumed, did not lead to a turning point in the course of production processes. When considering property relations, it is necessary to highlight: 1) legal (legal) property relations; 2) economic property relations. Legal property relations characterize the attitude of subjects - citizens and the state to the objects of ownership (property). Economic property relations characterize the relationship between the participants in production regarding the use of its factors. Forms of ownership. There are 2 main subjects of ownership (citizens and the state) and, accordingly, two main forms of ownership: 1) private; 2) state. Private property is subdivided into: individual capitalist, collective property of organizationally united capitalists. Individual private property was characteristic of the pre-monopoly era, and collective capitalist property is characteristic of the modern financial capitalist economy, which represents finance capital as a new entity. These forms of capitalist property are characterized by the division of capital into real (money, means of production, finished goods) and fictitious (securities - stocks, bonds). The individual capitalist is directly the private owner of only fictitious capital, while real capital functions as the property of the corporation. As the productive forces develop, the forms of private capitalist property also undergo further evolution: the individual form of private property is increasingly being supplanted by group and state property. The economic importance of state property has increased especially. In the developed capitalist countries, an ever-increasing part of money and productive capital is concentrated in the ownership of the state.

ANDproduction delays and profits. Zlaw of diminishing returns

Production costs are understood as the cost of manufacturing products. From the standpoint of society, the costs of producing goods are equal to the total cost of labor (living and materialized, necessary and surplus). From the standpoint of the enterprise, due to its economic isolation, only its own expenses are included in the costs. Moreover, these costs are divided into external and internal. External (explicit) costs are direct cash payments to resource providers. Explicit costs include workers 'and managers' salaries, payments to merchants, banks, transportation fees, and more. Internal (implicit) costs (implicit): costs of own and independently used resource, opportunity costs not provided for by contracts, mandatory for explicit payments, and therefore remain unreceived in monetary form (use of premises or transport owned by the company, the owner's own labor, and etc.)

Profit- excess in monetary terms income from the sale of goods and services over costs for the production and marketing of these goods and services.

The law of diminishing returns consists in the fact that in a short period, when the value of production capacity is fixed, the marginal productivity of the variable factor will decrease, starting from a certain level of costs of this variable factor.

16.market economy in conditions of perfect and imperfect competition

Imperfect competition (Monopolistic competition). A widespread market structure is monopolistic competition (MC), which combines the features of competition and monopoly. MK is a structure with little monopoly power, but a very high degree of competition. It has the following features: there are many firms producing differentiated goods, and a large number of buyers; firms-monopolistic competitors are free to enter and leave the industry; a monopoly competitor has some price control; there is significant non-price competition in the industry. A small negative slope of the demand curve in an MC environment means that the firm will produce fewer products than in perfect competition.

Perfect, free or clean competition - economic model, idealized state market when individual buyers and sellers cannot influence the price, but form it by their contribution demand and suggestions.

Signs of perfect competition:

An infinite number of equal sellers and buyers

Uniformity and divisibility of the products sold

No barriers to entry or exit from the market

High mobility factors of production

· Equal and full access of all participants to information (prices of goods)

Monopoly, oligopoly

Monopomlia(from Greek ???? (mono)- one and????? (poleo)- I sell) - a company (the situation on the market in which such a company operates), operating in the absence of significant competitors (producing goods (s) and / or providing services that do not have close substitutes).

Types of monopolies

· Natural monopoly- a type of monopoly that occupies a privileged position in the market due to the technological features of production (due to the exclusive possession of the resources necessary for production, extremely high cost or the exclusivity of the material and technical base). More often than not, natural monopolies are firms that manage labor-intensive infrastructures that are economically or technically impossible to re-create by other firms (eg water supply systems, power supply systems, railways).

· Conglomerate (Concern) (in legal practice - a group of persons) - several heterogeneous, but financially mutually integrated entities (for example, in Russia, JSC " Gazmetal").

Oligopoly-market structure in which several large firms control the production and marketing of the bulk of products

RMarket relations in the agricultural sector of the economy

The specificity of agricultural production determines the characteristics of reproduction in the agrarian sector of the economy in the entire system of the agro-industrial complex (AIC) in a market economy. It is important to determine the sectoral aspects of the structure of the agro-industrial complex, that is, to find out the range of industries that are included in the agro-industrial complex in the agribusiness system, their border and social economy functions.

The agro-industrial complex includes 4 areas:

Branches of the industry producing means of production for cx and other industries included in the complex

Cx production (animal husbandry and crop production

· The industry has carried out the processing of storage and transportation of products from raw materials to bring them to their consumption.

Industrial and social infrastructure

Finance and financial system of the state

Finamns(from lat. financia- cash, income) is a system of economic relations for the formation and use of funds based on the distribution and redistribution of GNP and national income

The financial system of any country is determined by the economic system of society. It is a set of different spheres (links) of financial relations, each of which is characterized by peculiarities in the formation and use of funds of funds, a different role in social reproduction. The financial system of the Russian Federation includes the following areas of financial relations: - public finances (state budget, extra-budgetary funds, state credit, territorial budgets, finances of state enterprises, financial reserves); - finances of enterprises, institutions and organizations consist of the finances of enterprises operating on a commercial basis, finances of institutions and organizations engaged in non-commercial activities, finances of public associations; - insurance finance includes funds for social, personal and property insurance; - finance lending covers the banking and parabanking systems. The financial system finds its expression in financial policy, and the latter is implemented through the financial mechanism. Financial mechanism - a system of action of financial methods and levers in the organization, planning and stimulation of the use of financial resources.

The state budget

The state budget- these are monetary relations that arise between the state and legal entities and individuals regarding the redistribution of national income. in other words, it is a list of state revenues and expenditures.

V budget system Russian Federation includes budgets of the following levels:

· Federal budget

Budgets of the constituent entities of the Russian Federation (regional budgets)

Municipal budgets (local budgets)

Budgets of state extra-budgetary funds

Vnon-budgetary funds

Statemnatural extrabudgetarymtny fund- a fund of funds formed outside federal budget and budgets subjects of the Russian Federation and intended for the realization of the constitutional rights of citizens to pensions, social insurance, social security in the event of unemployment, health care and medical care. The expenses and incomes of the state off-budget fund are formed in the manner prescribed by The Budget Code Russia, as well as other legislative acts, including laws on the budget of the Russian Federation for the corresponding year.

The following state non-budgetary funds operate in Russia:

· Pension fund of the Russian Federation

· Social Insurance Fund of the Russian Federation

· Federal Compulsory Health Insurance Fund.

Ffunctions of the principle of the tax system

Taxes are mandatory fees and payments levied by the state from individuals and legal entities to budgets of the corresponding level or to extra-budgetary funds at a rate established by law. Functions of the tax system.

* fixed - associated with the domination of the revenue side of the budget. In countries with traditional market economies, 90% of state budget revenues are generated from taxes, payments and customs duties.

* regulatory - contributes to the redistribution of income through deferentiation of tax rates

* social-implemented through the state budget and by financing social programs of the state.

* stimulating - associated with stimulating the investment process of agricultural production, small business

* protectionist - designed to temporarily protect domestic producers from foreign trade expansion of foreign firms.

Principles of the tax system

* the obligation to pay taxes by all subjects of the market economy receiving income or profit

* flexibility of the tax system.

* progressive nature of taxation.

Ffederal taxes

Federal taxes and fees- compulsory and non-repayable contributions, which are fully or partially credited to the federal budget or federal extra-budgetary funds and are sources of income for the federal budget (extra-budgetary fund). In accordance with the Tax Code of the Russian Federation to F.N. and with. include: VAT; excise taxes on certain types of goods (services) and certain types of mineral raw materials; profit (income) tax of organizations; capital gains tax; personal income tax; unified social tax (contribution); National tax; customs duties and customs fees; subsoil use tax; tax on the reproduction of the mineral resource base; tax on additional income from hydrocarbon production; fee for the right to use objects of wildlife and aquatic biological resources; forest tax; water tax; environmental tax and federal license fees. F.N. and with., are established by the Tax Code of the Russian Federation, and the change or cancellation of federal taxes is carried out exclusively by the adoption of a federal law on amending the Tax Code of the Russian Federation. F.N. and with. are obligatory for payment throughout the territory of the Russian Federation.

Rregional taxes

Regional taxes

o Property tax organizations

o Gambling business tax

o Transport tax

Regional taxes and fees- compulsory and gratuitous contributions to the budget of the respective constituent entities of the Russian Federation, established by the laws of the constituent entities of the Russian Federation in accordance with the Tax Code of the Russian Federation and obligatory for payment on the territory of the respective constituent entities of the Russian Federation. To R.N. and with. include: tax on property of enterprises; property tax; road tax; transport tax; sales tax; gambling business tax; regional license fees. NS. and with. are credited to the corresponding regional budgets (off-budget funds) and are sources of income for these budgets (off-budget funds).

Mlocal taxes

1. Local taxes include the following:

a) tax on property of individuals. The amount of tax payments is credited to the local budget at the location (registration) of the taxable object;

b) land tax. The procedure for crediting tax revenues to the relevant budget is determined by the legislation on land;

c) registration fee from individuals engaged in entrepreneurial activity. The amount of the fee is credited to the budget at the place of their registration;

d) tax on the construction of industrial facilities in the resort area;

e) resort tax;

f) fee for the right to trade. The collection is established by district, city (without district division), district (in the city), settlement, rural representative bodies of power - local Soviets of People's Deputies. The fee is paid by purchasing a one-time coupon or temporary patent and is fully credited to the relevant budget; (as amended by the RF Law of 16.07.92 No. 3317-1)

g) targeted fees from citizens and enterprises, institutions, organizations, regardless of their organizational and legal forms, for the maintenance of the police, for the improvement of territories, for the needs of education and other purposes. (as amended by the Law of the Russian Federation of December 22, 1992 No. 4178-1) h) advertising tax. The tax is paid by legal entities and individuals advertising their products at a rate not exceeding 5 percent of the cost of advertising services;

i) tax on the resale of cars, computers and personal computers. The tax is paid by legal entities and individuals reselling the specified goods at a rate not exceeding 10 percent of the transaction amount;

j) collection from dog owners. The tax is paid by individuals who have dogs in cities (except for service dogs) in an amount not exceeding 1/7 of the statutory minimum monthly wage per year;

k) license fee for the right to trade in wine and vodka products. The levy is paid by legal entities and individuals who sell wine and vodka products to the population in the amount of: from legal entities - 50 minimum monthly wages per year established by law, individuals - 25 minimum monthly wages per year established by law. When these persons are trafficked from temporary outlets serving evenings, balls, festivities and other events - half of the statutory minimum monthly wage for each day of trade;

l) license fee for the right to conduct local auctions and lotteries. The fee is paid by their organizers in an amount not exceeding 10 percent of the value of the goods declared for the auction or the amount for which lottery tickets have been issued;

m) fee for issuing a warrant for an apartment. The fee is paid by individuals upon obtaining the right to move in a separate apartment in an amount not exceeding 3/4 of the statutory minimum monthly wage, depending on the total area and quality of housing;

o) fee for parking vehicles. The levy is paid by legal entities and individuals for parking cars in places specially equipped for these purposes in the amount established by the representative authorities - local Soviets of People's Deputies; (as amended by the RF Law of 16.07.92 No. 3317-1)

o) fee for the right to use local symbols. The fee is paid by manufacturers of products on which local symbols are used (coats of arms; types of cities, localities, historical monuments, etc.), in an amount not exceeding 0.5 percent of the value of the products sold;

p) Fee for participation in races on hippodromes. The fee is paid by legal entities and individuals who exhibit their horses in competitions of a commercial nature, in the amount established by the local government authorities on the territory of which the hippodrome is located;

c) Fee for winning races. The fee is paid by the persons who won the game on the sweepstakes at the hippodrome, in an amount not exceeding 5 percent of the winnings;

r) collection from persons participating in the betting game at the hippodrome. The fee is paid in the form of a percentage surcharge to the fee established for participation in the game, in an amount not exceeding 5 percent of this fee;

s) levy on transactions made on stock exchanges, with the exception of transactions provided for by legislative acts on the taxation of transactions with securities. The fee is paid by the participants in the transaction in an amount not exceeding 0.1 percent of the transaction amount;

t) fee for the right to film and television filming. The fee is paid by commercial film and television organizations that shoot, requiring local government bodies to carry out organizational measures (allocation of a police squad, cordoning off the shooting area, etc.), in the amount established by the representative authorities - local Councils of People's Deputies; (as amended by the RF Law of 16.07.92 No. 3317-1)

x) fee for cleaning the territories of settlements. The levy is paid by legal entities and individuals (owners of buildings) in the amount established by the representative authorities - local Councils of People's Deputies. (as amended by the RF Law of 16.07.92 No. 3317-1)

v) fee for opening a gambling business (installation of slot machines and other equipment with a clothing or cash prize, card tables, roulette and other means for playing). The payers of the fee are legal entities and individuals - the owners of the specified means and equipment, regardless of the place of their installation. The rates of collection and the procedure for its collection are established by the representative bodies of power - local Soviets of People's Deputies. (Clause "c" was introduced by the Law of the Russian Federation dated July 16, 1992 No. 3317-1)

w) tax on the maintenance of the housing stock and social and cultural facilities in an amount not exceeding 1.5 percent of the volume of sales of products (works, services) produced by legal entities located in the relevant territory.

State debt

Public debt - another major public finance problem - is the sum of surplus budgets minus all deficits. Distinguish between external and internal government debt. External public debt - debt of the state to foreign states, organizations and individuals. Domestic public debt is the debt of the state to its population. It can take the form of loans received by the government; government loans made by issuing securities on behalf of the government; other debt obligations guaranteed by the government - the need to service external debt, which, given its volume, means a significant reduction in consumption opportunities for the population of a given country; - debt leads to the crowding out of private capital, which can limit further economic growth; - an increase in taxes to pay public debt acts as a disincentive to economic activity; - the growth of external debt, of course, reduces the international prestige of the country; - with the growth of public debt, the uncertainty of the country's population in the future increases. There is a need for debt management.

NSeconomic cycle and crisis

Economic Cycles - term, denoting regular fluctuations in the level of business activity from economic boom to economic recession... V cycle business activity can be divided into four distinct phases: peak, decline, bottom (or “trough”) and rally. Rise occurs after reaching the lowest point of the cycle (bottom). Characterized by gradual growth employment and production. Many economists believe that this stage is characterized by low inflation rates. There is an introduction of innovations in the economy with a short payback period. Demand pent-up during the previous downturn is being realized.

The peak, or top of the business cycle, is the “high point” of an economic recovery. In this phase unemployment usually reaches the lowest level or disappears altogether, production capacities operate at maximum or close to it load, that is, almost all material and labor resources... Usually, although not always, during peaks increases inflation... The gradual saturation of markets intensifies competition, which lowers the rate of return and increases the average payback period. The need for long-term lending is increasing with a gradual decrease in the ability to repay loans.

Recession ( depression) is characterized by a decrease in production volumes and a decrease in business and investment activity. Due to the fall conjuncture a recession is usually accompanied by an increase in unemployment and a drop in capacity utilization. Officially a recession phase, or recession, I consider the situation of a drop in business activity, which has been going on for more than three months in a row.

Bottom ( economic crisis) the economic cycle is the "lowest point" of production and employment. It is believed that this phase of the cycle is usually not long. However, history knows also exceptions to this rule. The Great Depression The 1930s, despite periodic fluctuations in business activity, lasted nearly ten years.

Economic crisis (Old Greek Krisis - turning point) - imbalance between in demand and proposal on goods and services.

The main types are - underproduction crisis and overproduction crisis.

An underproduction crisis, as a rule, is caused by non-economic reasons and is associated with a disruption in the normal course of (economic) reproduction under the influence of natural Disasters or political actions (various prohibitions, wars etc.)

The overproduction crisis, also known as the "cyclical" crisis, appears in the industrial market economy, initially in England in the 18th century.

Overproduction crisis is a phase economic cycle... It leads to a recession and a subsequent depressive process in the economic environment.

The result of the economic crisis is a decrease in the real gross national product, massive bankruptcies and unemployment, and a decrease in the living standards of the population.

Haveequal and quality life, population income

Standard of living(level of well-being) - the level of material well-being, characterized by the volume of real per capita income and the corresponding volume of consumption.

Personal income (cash) is used to pay expenses. Income depends on what factors of production owned by the person. If these are labor resources, then for your work he receives wages, if capital, then for its investment the owner of the capital receives a part of the profit ( dividends, percent), if Natural resources(for example, land), then the owner's income is rent... Income provides current consumption and is also saved as savings. At the same time, the analysis of the structure of expenditures serves as a source of extremely important data for assessing the state of affairs in the economy of any country.

"Kamhonor lifemzni "- an indicator of general well-being human, which is broader than purely material security (see. standard of living).

The quality of life may depend, for example, on the condition health, content problems to be solved, freedom from stress and excessive concern, organization leisure, level education, access to cultural heritage.

NSeconomic growth: essence, types, factors

Economic growth and its problems. Types of econ. growth. There are two types of economic growth: extensive and intensive. With the extensive type, economic growth is achieved due to a quantitative increase in the factors of production while maintaining its previous technical basis. With an intensive type of economic growth, an increase in the scale of production is achieved by qualitatively improving the factors of production: using more progressive means of labor and more economical objects of labor, improving the qualifications of the labor force, and also by improving the use of the existing production potential. In real life, extensive and intensive fac ...........