The interaction between supply and demand and the functioning of the price mechanism occur in the market in conditions of competition between buyers and between sellers. Competition (translated from Latin means “to converge”, “to collide”) is an economic rivalry, the competitiveness of isolated commodity producers and consumers for obtaining maximum income. A. Smith figuratively called […]
Tag: base
Types of economic systems and their criteria
Mankind in its difficult history has already “experienced” quite a lot of different economic systems. This gives grounds to raise the question of their classification. Classification in science is always a complex matter. Its success, scientific validity largely depends on the correctly selected “key”. Such a “key” is the criterion of separation, i.e. its main […]
Forms and intensity of competition
This is one of the main characteristics of the industry and the competitive situation, without the analysis of which it is impossible to develop a full-fledged strategy. Despite the different intensity of competition in different industries, the competition itself is approximately the same, which allows a common approach for its analysis. Harvard Business School professor […]
The mechanism and results of intra-industry and intersectoral competition in the theory of Karl Marx
Intra-industry competition is competition between manufacturers of one industry for the most favorable conditions for the production and sale of goods. Marx considered such means of intra-industry competition as lowering the price of goods and reducing the cost of production. Intra-industry competition is complemented by cross-industry competition. They exist simultaneously, so the separation of their […]
The concept of an international contract (contract) and recommendations for its compilation
The implementation of international commercial operations requires a certain legal norm – the conclusion of an agreement between partners of different countries. Foreign trade transactions of two or more parties in the course of their production, economic and trade activities are formalized by a contract (agreement), which is usually made in writing. A contract is […]