Subjects of the economic system

An economic system does not exist outside of human society, so there are many subjects operating in it. The subjects of the economic system are the participants who function in this system, whose needs, interests and goals are realized in it. Since there are many subjects, but certain of them have close or unambiguous functions […]

Modern concepts, functions and structure of the economic system

So what is an economic system? A system in general means a complex and interconnected set of some elements. And although economists do not argue with this, their ideas about what an economic system is are far from unambiguous. There are several approaches to this problem. One of them is called “technological”. With this approach, […]

Subject area of economic sociology

Economic sociology studies the patterns of economic life using a system of categories developed within the framework of this science. She describes the development of the economy as a social process driven by the activity of social actors functioning in it, the interests, behavior and interaction of social groups and strata. It is known that […]

Approaches to the classification of services

The concept of “service” includes a complex of diverse types of human economic activity, causing the existence of various options for classifications of services. International practice identifies the following 12 service sectors, which in turn include 155 subsectors: commercial services; postal and communication services; construction works and structures; trade services; education services; environmental protection services; […]

Theory of Comparative Advantage

From the theory of A. Smith it followed that the factors of production have absolute mobility within the country and move to those regions where they receive the greatest advantage. However, after some time, the advantage of some regions over others may disappear, therefore, trade will also stop. David Ricardo developed the theory of absolute […]