Izvestiya of Saratov University.

Economics. Management. Law

ISSN 1994-2540 (Print)
ISSN 2542-1956 (Online)

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Gusev V. V., Osipov R. A. Supply, Demand and Price as a Basic Economic Category Analysis of Economic Systems and Processes. Journal Izvestiya of Saratov University. Economics. Management. Law, 2017, vol. 17, iss. 1, pp. 18-25. DOI: 10.18500/1994-2540-2017-17-1-18-25

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Supply, Demand and Price as a Basic Economic Category Analysis of Economic Systems and Processes

Gusev Vladimir Vladimirovich, Saratov Social-Economic Institute of the Plekhanov Russian University of Economics
Osipov Roman Alexandrovich, Stolypin Volga Region Institute of Administration of the Russian Presidential Academy of National Economy and Public Administration

Introduction. Category value – is the cornerstone, the foundation on which to build an economic system design, it is important for the basic tenets of economic theory. Based on the theory of value determined by the goals and motives of enterprises and entrepreneurs activities, chooses the distribution of economic resources, processes, market exchange function. Theoretical analysis. The labor theory of value relates the value of the commodity labor costs of its production. The theory of marginal utility explains the value of the goods for the benefit of its customers. At the same time the utility of goods decreases continuously as they are becoming more and more of the consumer. As far as the two polar points of view, so the two theories agree that the price is determined by or on the basis of labor or on the basis of utility in the process of exchange of the interaction of supply, demand and prices. Empirical analysis. Economic exchange theory (or the theory of the market) introduces an understanding of supply and demand, not as real consumption and the production of a certain number of goods, but as a plan to buy or sell at the same price one quantity of goods at a different price – more. She shares the concept of demand and supply on the concept of two parts: the value of demand (supply) and the level of demand (supply). The process ends with the creation of the maximum abstraction of formal models in which the exchange is not analyzed by considering the cause and effect relationships, and by studying the mathematical charts. Results. Unsubscribe from a high level of formalization and abstraction in theoretical models, while retaining their ability to accurately predict, possibly by constructing visual models of exchange (market). In fact, the cost of goods is the basis not only of a particular economic system, but also its security basis, ensuring the stability of the operation and the very existence of the system.

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