Good Is an object, phenomenon, process, product of labor that satisfies a certain human need and meets the interests, goals, aspirations of people.
Some goods are available on an almost unlimited scale (for example, air), others on a limited basis. The latter are called economic benefits. They are made up of things and services.
Economic benefits - desired, but limited in quantity, goods and services. Economic benefits include those benefits that can be obtained in limited quantities compared to the needs that they can satisfy.
Non-economic benefits (free benefits) provided by nature without human effort. These benefits exist in nature "freely", in sufficient quantities to fully and permanently satisfy certain human needs (air, water, light, etc.).
There should be a clear distinction between economic and non-economic benefits. This distinction is related to the concept rarities... The non-economic benefit is available in unlimited quantities. Economic good is a rare good.
See also:
It is the relationship between the need, or need (in the terminology of K. Menger, a prominent representative of the Austrian school), and the amount of goods available for disposal that makes them economic or non-economic.
For example, if you live in the taiga , tree trunks for building a dwelling are not economic benefits for you. After all, their number is a huge number of times higher than your need for this building material.
Drinking water if you live on the shores of a pristine lake is not an economic boon. It will become such for you only in the desert, where a person's need for drinking turns out to be higher than the amount of water available to satisfy this need.
Due to its limitations, every economic good has a price.
Price- monetary expression of value.
The price of a good depends mainly on the costs of its production and delivery, as well as on the number of people who want to have it.
The desirability and value of goods depends on their usefulness, that is, the ability to satisfy needs.
4. Private and public goods are divided depending on whether a particular good satisfies the needs of one person or is beneficial to all.
Public goodsthree principles are inherent: first, they cannot be sold on the market, they are indivisible. Secondly, the principle of exclusivity is inapplicable to them, i.e. they cannot provide for some and deprive others. The benefit can also be used by those who do not pay for it (traffic lights, street lighting, lighthouses). Thirdly, if at least one person is provided with the good, then the provision of others does not require additional costs.
Public goods include: education, health, science, energy, public transport, waterworks, water management, sports, culture and recreation facilities, police, defense, fire protection, and public administration.
Since private business cannot or does not want to provide society with these types of goods, they have to take care of their production and assortment state.
5. Normal and subordinates (inferior).
The demand for normal goods increases as incomes increase, and decreases with the latter. For subordinate goods - on the contrary.
6. Interchangeable(substitutes) and complementary(complementary). Substitutes include not only many consumer goods (for example, pen and pencil, tea and coffee) and production resources, but also transportation services (train - plane - car), leisure (cinema - theater - circus), etc. goods are goods that cannot be consumed one without the other (table and chair, car and gasoline, pen and paper).
According to Marx's theory ( ), value (value) of an economic good determined costs of socially necessary labor, i.e. labor performed under average socially normal conditions of production and average intensity of labor.
According to , the value of goods depends on their rarity , first of all, on the intensity of the need and the amount of goods that can satisfy this need. It is assumed that any need can be satisfied by several goods, and any economic good can be used to meet different needs.
1. Some economic benefits are available in unlimited quantities.
1) True 2) False
2. The recession phase of the economic cycle is accompanied by an increase in the level of employment.
1) True 2) False
3. In full employment, the level of structural unemployment is zero.
1) True 2) False
4. If the price level has decreased by 10%, then this is deflation.
1) True 2) False
5. The company pays value added tax to the budget only at the end of the reporting year
1) True 2) False
6. The amount of capital used can serve as a barrier to entry into the industry.
1) True 2) False
7. The current state of the Russian economy can be depicted as a point below the production opportunity curve
1) True 2) False
8. In the face of perfect competition, the individual firm's supply curve is perfectly elastic.
1) True 2) False
9. All points on the production capability curve correspond to the efficient use of resources
1) True 2) False
10. Prices for interchangeable goods change in one direction
1) True 2) False
Test II
1. A fundamental problem that all economies face:
a) unemployment;
b) income inequality;
c) inflation;
d) limited resources;
2. In which statement should the word "demand" be replaced by the expression "quantity demanded"?
a) The rise in prices for imported apples led to an increase in demand for domestic apples.
b) The increase in real incomes of consumers has led to an increase in demand for cars.
c) The increase in the supply of tangerines led to a decrease in the price of them. As a result, the demand for tangerines has increased in the short term.
d) As a result of the increase in airfare prices, the demand for rail travel has increased.
3. If the state sets the lower limit of the price for chocolate at a level higher than the equilibrium level, then:
a) the equilibrium price of chocolate will rise;
b) there is an excess of chocolate on the market;
c) the supply of chocolate will grow;
d) all answers are correct.
4. A drop in the price of gasoline will cause a shift:
a) to the right of the gasoline supply curve;
b) to the left of the demand curve for cars;
c) to the left of the car supply curve;
d) to the right of the demand curve for cars;
5. A sharp decrease in the cost of travel by rail will lead to the following in the air transportation market:
a) Growth in equilibrium price and equilibrium sales
b) An increase in the equilibrium price and a decrease in the equilibrium volume of sales
c) A decrease in both the equilibrium price and the equilibrium sales volume
d) Shift of the demand curve to the left and down
6. In economic analysis, a short-term period is a period of time:
a) when the amount of all used economic resources remains unchanged;
b) when it is impossible to change the amount of some resources, but you can change the amount of other resources;
c) duration is more than a year;
d) when you can change the amount of all resources;
7. If a housewife starts looking for a job, then:
a) the unemployment rate decreases with the growth of the labor force;
b) the unemployment rate rises with the growth of the labor force;
c) the unemployment rate remains unchanged with the growth of the labor force:
d) the unemployment rate decreases with the unchanged size of the labor force;
8. The demand for a product of a separate, completely competitive firm is characterized by the following relationship:
a) its average revenue curve is below the demand curve;
b) the marginal revenue curve lies below the average revenue curve;
c) the curve of marginal revenue coincides with the curve of average revenue;
d) the average revenue curve lies above the market price curve;
9. What is the inflation rate in the country's economy if the inflation rate is 1% per day:
a) moderate
b) high
c) galloping
d) hyperinflation
10. A group of economists have been studying the situation in the candy market for some period of time. Economists have found that candy and toffee are interchangeable goods. It means that:
a) with an increase in the production costs of toffee, the demand for candy will fall;
b) with an increase in the supply of toffee, the demand for candy will fall;
c) the cross elasticity of demand for lollipops at the price of toffee is negative;
d) cross elasticity of demand for lollipops at the price of toffee modulo more than one
11. Ivanova's teacher wants to buy 2 kg of her favorite candy. There are two stores where you can do this. In one store, sweets cost 260 rubles / kg and you can buy them out of line, in another - they cost 200 rubles / kg, but you have to wait in line for 0.75 hours. It is known that she has the opportunity to earn additional income through classes with lagging students. Determine the rate of hourly wages for these activities, at which she will not refuse to choose an expensive store.
a) at least 120 rubles.
b) at least 180 rubles.
c) at least 160 rubles.
d) not less than 100 rubles.
12. A competitive market for a normal product is considered. If consumer income and resource prices increase, then:
a) The equilibrium price will decrease, but nothing definite can be said about the equilibrium volume.
b) The equilibrium price will increase, but nothing definite can be said about the equilibrium volume.
c) The equilibrium price will increase and the equilibrium volume will decrease.
d) The equilibrium price will decrease and the equilibrium volume will increase.
13. Items A and B are interchangeable. A significant reduction in the commodity tax on producers of commodity A will lead to the following:
a) The price and volume of sales of item B will increase
b) The price and volume of sales of goods B will decrease
c) The price of product B will decrease, and sales will increase
d) The price of product B will increase and sales will decrease
14. The period of time during which all factors of production of a firm are variable is called:
a) Limit
b) Current
c) Short-term
d) Long-term
15. The computer assembly plant employed 20 workers prior to the upgrade. They collected 200 computers a day. After modernization, 5 employees were laid off. The size of the daily release has increased to 300 computers. As a result of modernization, labor productivity:
a) doubled
b) remained the same
c) increased by 50%
d) decreased by 50%
Test III
For each of the concepts and terms presented here, choose the appropriate definition.
Concept
1. Macroeconomics.
2. The main problem of the economy
3. Unemployment
4. Normal goods.
5. Equilibrium amount of good.
6. The principle of decreasing marginal utility.
7. Economic system
8. Labor
9. Cost variables
10. Fixed costs
Definition
A. socio - economic phenomenon in which part of the labor force is not employed in the production of goods and services.
B. the needs are limitless, and the resources available are limited.
V. a science that studies the economy of the state, the world as a whole.
D. The amount of goods that buyers want and can purchase at a given price level.
D. costs that can be increased or decreased in order to correspondingly change the volume of production.
E. The principle according to which the consumption of each subsequent unit of the good brings the consumer less satisfaction and utility than the consumption of the previous one.
G. costs that cannot be increased or decreased in a relatively short period of time (in order to increase the volume of output).
H. Goods, the demand for which increases as the income of buyers increases.
I. The way of organizing society to solve the economic issues facing it.
K. The set of physical and intellectual capabilities of a person that can be used in the production of goods.
Answers
Test I
1. 2
2. 2
3. 2
4. 1
5. 2
6. 1
7. 2
8. 2
9. 1
10. 2
Test II
1.g
2.in
3.b
4.g
5.g
6.b
7.b
8.in
9.g
10.g
11.in
12.b
13.b
14.g
15.a
Test III
1 –B
2 –B
3 -A
4 - З
5 –G
6 -E
7 –I
8 -K
9 -D
10 -J
In contact with
Economic benefits are a means of satisfying needs that are available in limited quantities. These are goods that, due to their scarcity or limitedness, must be produced and distributed. Since the demand for these goods significantly exceeds their quantity, they have a price. Limited goods include almost all goods, with the exception of air, sunlight and some others, the supply of which significantly exceeds the demand for them.
Free goods- the benefits available in unlimited quantities (sunlight, air and other benefits). The need to produce and distribute these goods does not exist, since their supply is so great that the price is zero.
Limited resources
In economic theory, under limited resources it does not mean a simple physical limitation of resources, for example, minerals contained in the bowels of the planet Earth. The point is somewhat different - that with the free provision of the resource, the demand for it would exceed its availability. As a consequence, the owners of such resources are entitled to receive income for the resource they own. This kind of "economically limited" resources are called economic resources.
The limited resources that society has at its disposal also determines the limited benefits at its disposal.
General classification of economic resources
Production Capability Curve
Production Capability Curve- in economic theory, a curve showing the various combinations of two goods or services that can be produced in full employment and efficient production in an economy with constant reserves of resources and constant technology.
Prerequisites:
the economy operates in full employment and reaches full production;
the quantity and quality of the resources used is invariable;
technology is unchanged;
the economy produces only two goods.
Table 1. Production Capability Table
Rice. 1. Production Capability Curve
The production capability curve reflects, at each point, the maximum production of two products with different combinations that allow full and efficient use of resources. Moving from one alternative to another, the economy switches its resources from one commodity to another.
Point F within the production opportunity curve means incomplete, inefficient use of resources. Point G outside the curve is unattainable with the given amount of resources and available technology. Any economy is located at point F, that is, there is always a reserve of resources. When moving to the curve, only one, the best option of movement is possible, which gives the maximum result at a given cost, or a given result at the minimum cost. The production capability curve shows the collection of all points or solutions within which the best option should be selected. All other points represent lost opportunities or opportunity costs.
The production capability curve shows:
Trends in the growth of alternative production costs in the context of an increase in the production of one of the goods.
Production efficiency level.
The production capability curve may reflect differences in the production capabilities of different countries.
The amount of other goods that must be discarded in order to receive a certain amount of this good is called opportunity cost (opportunity cost). The shape of the production opportunity curve shows the price of one good expressed in terms of the alternative quantity of another good. Price in a market economy is a reflection of opportunity cost (opportunity cost or opportunity cost). It can be expressed in goods, in money, in time.
The price of one rocket is equal to the number of candies that must be discarded. For each additional unit of rockets, society pays an increasing price in the form of unproduced candies. For the gradual transition from rockets to sweets, society also pays an increasing price, receiving a smaller increase in this product. There is a law of increasing opportunity costs: with an increase in the volume of production of one product, an increase in costs per unit of another product is inevitable.
Unlimited needs and limited resources
Unlimited needs are the insatiable desire of human consumers to have goods and services that give them pleasure or satisfy their needs.
The existence of any society depends on the solution of the problem of allocating limited resources. Allocating resources means placing them in certain quantities for the purpose of specific productive use or endowing individuals and groups with them.
There are two main ways of allocating resources. The market distribution path is absolutely dominant in the world. However, a significant part of the resources is allocated through decisions made by the authorities (state distribution). In the market system, resources are allocated in accordance with the willingness to pay for them, and in the state system - in accordance with the decision of the authorities.
In both cases, there is competition for access to resources. However, in a market system, its main factors are cost minimization and the supply of new products and technologies. On the contrary, under state distribution, competition takes on forms that are absolutely not associated with the benefits of society as a whole and each consumer separately.
These are such forms as: a) queue, b) privileges, c) criminally punishable or non-punishable forms (bribery, mass theft of "thugs", etc.). The market system presupposes not only competition for access to resources, but also cooperation and collaboration.
The most important manifestation of cooperation is the agreement of all competitors to adhere to the rules of the game. In state distribution, the rules of the game are replaced by volitional decisions (voluntarism of the authorities).
WHAT to produce from limited resources (another nuclear submarine or 1000 schools);
HOW to produce which combination of factors will be the most productive (what should be the structure of the energy balance in terms of production and consumption);
FOR WHOM produce goods from limited resources. Should the total income be divided equally or according to some other criteria?
The problem of choice is constantly being solved by those who make economic decisions. Economists include: a) households, which are the owners of the factors of production; b) firms - organizations that produce goods and services for sale to the public (households); c) the state (authorities).
Good (Good) is any item that can be tangible and intangible, capable of satisfying the existing needs inherent in consumers, or can be used for certain purposes by the manufacturer.
In the production process, the initial resources (labor, capital, land) are adapted to human needs, as well as the creation of those goods that satisfy the various needs of people. All these needs are met not only by those products that were created in the production process. Karl Menger in his work "The Foundations of Political Economy" considered the conditions for the transformation of a thing into a good:
- availability of needs;
- the ability of a thing to satisfy a need;
- human cognition of a cause-and-effect relationship;
- the ability to dispose of a thing to meet needs.
If all four of these conditions are met, then the thing becomes a good.
Some goods are available in almost unlimited quantities and scales (for example, air), while others are only in limited quantities. These limited goods are called economic benefits.
All benefits can be divided into two types such as production resources and produced on the basis of these resources consumer goods.
Consumer goods, in turn, are divided into long-term that involve their reusable use (for example, a car, book, household appliances, etc.) and short-lived that disappear in the course of their one-time consumption (for example, bread, juice, etc.). Among the benefits are also interchangeable, or substitutes (for example, tea and coffee, ballpoint pen and gel pen, etc.) and complementary, or complementary (for example, tea and sugar, car and gasoline, etc.).
An economic good has three main properties:
- limitation;
- utility;
- value.
As Karl Menger wrote in his work "The Foundation of Political Economy": "The value of goods of a higher order is regulated by the expected value of goods of a lower order for the production of which they were intended or intended by the participants in the economic process." For example, grain is only valuable if it is ultimately baked into bread. In this example, the good is the good of the 3rd order, flour - the 2nd order, bread - the 1st order. Benefits of a lower order are used to satisfy human needs. Thus, the goods of the 1st order impart value to the goods of the higher orders, which are needed to satisfy human needs. This idea is the theory of imputation. The value is imputed to production goods by virtue of their necessity for the creation of consumer goods.
The ratio between the need and the amount of a given good determines the value of this good. Value is what people prescribe to goods, depending on the ratio between the amount of good and the degree of satisfaction of needs. Therefore, each additional unit of this good receives less and less value. Consequently, the utility received from each additional unit of good will decrease as it is saturated with this good. The marginal utility of any good is the increase in the total utility obtained as a result of the consumption of an additional unit of the good. Gossen's first law (the law of diminishing marginal utility) states: the amount of satisfaction of the need from the consumption of each additional unit of a good of a given type decreases until it reaches zero at the point of full saturation.
Economic goods that are ready for sale, regardless of their materiality, mobility, their properties as products of labor, and regardless of who puts them up for sale, are called goods.
P R K T I K U M K LECTURES 1
/ Level A /
Task number 1
For each of the concepts and terms given here, choose the appropriate definition
1 ... Limited resources
2 ... Production factors
3 ... Work
4 ... Economic benefits
5 ... Microeconomics
6 ... Free goods
7 ... Capital
8 ... Earth
9. Rationality
10 ... Alternative cost
A... Funds necessary to meet the needs of people and available to society in limited quantities.
B. One of the factors of production, which includes such resources necessary for the production of economic goods as land, water, forests, mineral deposits, etc.
V... Human behavior that involves maximizing the result at a given cost or minimizing costs to achieve a given result.
G... The factor of production, which includes man-made means of production: machines, equipment, production buildings, tools, raw materials, semi-finished products, etc.
D... A situation where resources are insufficient to meet the needs of people.
5) All of the above is true.
9. Wages as remuneration for work are received
1) both entrepreneurs and employees.
1) cannot be defined, since money is not a factor of production.
2) grows if the% on bank deposits grows.
3) increases if interest on loans increases.
4) does not change.
5) There are no right answers.
Task number 3
Choose the correct statements
1. If the economy is considered as a way of organizing the activities of people to create benefits, then in this case the word “economy” will be a synonym for the word economy.
2. Economics belongs to the social sciences because it develops according to the same laws as other social sciences.
3. Economics, not being an exact science, cannot use scientific methods of analysis.
4. Economic experiments are extremely expensive and time-consuming, so they are replaced by economic models.
5. Microeconomists study the decision-making processes of households and firms and their interactions in the marketplace.
6. The statement that the government is obliged to regularly raise the minimum wage is a positive statement.
7. Free goods are those that are distributed through simple appropriation.
8. Needs change in the process of development of society, so it is impossible to satisfy them.
9. In economic theory, the factors of production are usually divided into four groups: land, labor, money, entrepreneurship.
10. The entrepreneur receives wages as a reward for his activities.
2. Macroeconomics studies:
1) the reasons for the rise in prices for agricultural products in Central Russia;
2) the problem of employment in an individual firm;
4) the relationship between inflation and employment;
5) problems of declining living standards in the Perm Territory
3. Economic resources are:
1) professional knowledge of the coach Guus Hiddink;
2) oil produced by Lukoil;
3) the labor of a guest worker of low qualifications;
4) a sports ground at a school used for physical education lessons;
5) swing in the yard of a residential building.
4. Free resources:
1) are available in unlimited quantities;
2) can go into the category of economic resources if the demand for them exceeds the supply;
3) are not used in the production of goods and services;
4) have zero market price;
5) get everyone equally.
5. Competition in the economy ...
1) exists among consumers;
2) exists only in a society that uses money;
3) is a consequence of limited resources;
4) exists only among manufacturers;
5) leads to an increase in production efficiency.
6. Which of the following is an example of a trade-off choice?
1) Time spent deciding how much butter and how much vegetable oil to buy.
2) The decision to buy 1 liter of vegetable oil instead of 0.5 kg of butter.
3) The cost of buying vegetable oil versus the cost of buying butter.
4) Decision to buy bonds, not shares of JSC Railways.
5) A trip to Greece instead of a trip to Egypt.
7. What conditions characterize economic good?
1) The supply of such a good is not enough to meet the demand at zero price.
2) Society needs to produce them because they are rare.
3) They don't require production.
4) The demand for them always exceeds their supply.
5) These benefits are produced by the state.
8. Highlight macroeconomic situations.
1) The government is implementing a policy of price liberalization.
2) Lack of rain for a long time caused a drop in sugar beet yields.
13. Select all the correct statements.
1. The work of a scientist to create a new drug is not a factor of production, since the drug has not yet been created.
2. Land rent is the income for the production factor "land".
3. Shares of AAA are not considered a factor of production - capital.
4. The fee received by the poet for children's poems, published in the magazine, can be attributed to the remuneration for the factor of production - "labor".
5. The mixer used in the bar refers to the factor of production - capital.
14. Select all the correct correspondences between factors of production and incomes on them:
1) labor rent
2) capital - rent
3) land - rent
4) capital - interest
5) increases if the economy is overheated, and decreases if the economy is in recession.
Answers
Task number 1
1. | 2. | 3. | 4. | 5. | 6. | 7. | 8. | 9. | 10. |
Task number 2
1. | 2. | 3. | 4. | 5. | 6. | 7. | 8. | 9. | 10. |
11. | 12. | 13. | 14. | 15. | 16. | 17. | 18. | 19. | 20. |
Task number 3
True statements | ||||||||
True statements |
Task number 4
1. | 2. | 3. | 4. | 5. | 6. | 7. | 8. |
9. | 10. | 11. | 12. | 13. | 14. | 15. |