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Reports

Omuralieva Yantimerova Andreychuk Vorobyov Evstifeev

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A. The company and the purpose of its creation. Approaches to the definition of the firm in the modern theory of the firm. b. Organizational and legal forms

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2. Ownership.

A. Forms and types of property in the modern economy. b. Property rights, their types.

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3. Production function and production theory

A. The concept of production function(isoquant). Her properties. Special cases of isoquants: fixed structure of factor use, absolutely interchangeable factors. Marginal rate technological substitution. b. Isocost - budget constraint firms. V. Equilibrium of the firm in production theory.

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4. Accounting and economic approach to the definition of costs and profits.

A. The concept of costs. Technological and economic efficiency production. b. Accounting and economic costs and profits. Permanent and variable costs. V. Normal profit. Conclusions about the effectiveness of entrepreneurial activity.

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5. Costs of the firm in the short and long term.

A. The concept of a short period of time. General (cumulative) product, average, marginal product of a variable factor. Law of diminishing returns. B. Costs of the firm in the short run. Average, general and marginal cost, patterns of their change. The role of marginal cost for the firm. V. The concept of a long-term period of time. The firm's costs in the long run. d. The scale effect of production and the main types of industries.

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Related tests

1. If at release of the 10th unit of production gross costs make 1430 den. units, and with the release of the 11th - 1470 den. units, then marginal costs are: 40; 143; 133.6; 56. (1470-1430=40)

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2. The enterprise produces and sells 10 sets of dishes for 280 den. units Costs: raw materials - 1200 den.un.; fixed costs - 300; salary - 500; energy - 300. The value of the average profit is: 80 den. units; 50 den. units; 230 den. units; 280 den. units (Cost=120+30+50+30=230) (Profit=280-230=50)

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3. If in the short run the firm produces 500 units. products at average variable costs АVС=2 rub. and average fixed costs АFC=1 rub. then the total costs are: 3 rubles; 503 rubles; 750 rubles; 1500 rub. (ATC=AVC+AFC=2+1=3) (TC=ATC* Q=3*500=1500)

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4. If, upon release of 100 units. comrade Gross costs of the enterprise amounted to 1620 den. units, and with the release of 120 units. comrade -1680 den. units, then marginal costs are equal to .. 16.2 den. units; 6 days units; 14 days units; 3 days units (1680-1620)/(120-100)=3

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5. The following changes in the composition of the company's production reserves do not apply to the long-term period ... construction of oil refineries; increasing the amount of fertilizer on the farm site; attraction of 20 additional workers; commissioning of a new production line.

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6. The state form of ownership in a market economy is not typical for enterprises: for providing heat supply; for the production of building materials; for the production of footwear and clothing; for the supply of electricity to the population.

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7. There are 2000 firms in the industry that produce the same goods. For each firm, the marginal cost of producing 10 goods is 2 den. units, 20-3 den. units, 30-4 den. units, 40-5 den. units Unit price goods is equal to 3 den. units this means that the maximum profit will be received by the industry…. Enter the correct answer. Answer: 40 (MR=MC=P=3 with Q=20 Industry Q=20*2000=40k)

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8. The optimism of firms about future profits will lead to ... a) lower interest rates; b) growth of investments; c) falling investment; d) a decrease in output.

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9. The short term includes the following changes in the composition production resources firms ... a) the allocation of new labor to the factory; b) attraction of 20 additional workers; c) construction of oil refineries; d) commissioning of new equipment.

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10. The function of total income has the form: TR = 200Q - 0.1Q2. This means that the average income function (AR) has the form: a) 200 - 0.2Q; b) 200Q - 0.1Q; c) 200 - 0.1Q; d) 200Q2 - 0.4Q3.

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11. If TC = 0.1g3 - 2g2 + 30g + 1200, Q - 24, then the average fixed costs are: a) 10; b) 5; c) 25; d) 50. (AFC = FC/Q =1200/24=50)

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12. Average total costs - 37 rubles, average variables - 27 rubles with an output of 100 pieces. Fixed costs will be ... a) 6400; b) 2700; c) 3700; d) 1000. (AFC=ATC-AVC=37-27=10) (TC= AFC*Q=10*100=1000)

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13. Equilibrium wage in the industry W=300, demand Q=600-W, company costs for wages: a) 120 thousand rubles; b) 60 thousand rubles; c) 180 thousand rubles; d) 90 thousand rubles. (Qde= 600-300=300) (salary =300*300=90 thousand rubles)

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14. The average total costs of the enterprise - 26 rubles / piece, the average profit - 8 rubles. /PC. total volume of production and sales - 20 pcs. The income will be: a) 160; b) 360; c) 520; d) 680. (TR = P*Q = 34*20=680) (P =ATC+ATR =26+8=34

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15. The following changes in the composition of the company's production resources are related to the long-term period ... Attracting 20 additional workers Commissioning of new equipment Introduction of a new work shift at the factory Construction of an oil refinery

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16. Depreciation deductions are used for … Repair of machinery and equipment Purchase of raw materials and materials Purchase of new machinery and equipment to replace worn-out ones Rent of machinery and equipment

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17. If the following data on the activities of the company are known, then the gross income (TR) of the company is ... (TR = P * Q Q = VC / AVC = 20000/40 = 500 TR = 5 * 500 = 2500)

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18. If gross costs are TC=7Q2-10Q+55, marginal revenue is 32, then we will get the maximum profit with a volume equal to …

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19. If the function of the total costs of the firm has the form TC=50Q+0.02Q2-2Q3, then the average variable costs (AVC) of the firm at Q=10 will be ...

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20. If the following performance indicators of the company are known, then the value of the average variable costs (AVC) of the company at Q \u003d 10 will be ...

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21. Marginal costs with a production volume of 4 units. products will be: 5 den. units 5.5 den. units 50 den. units 40 den. units

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22. A characteristic feature only for a corporation is; Dividend payment; Use of hired labor: Involvement of hired managers in management: Division of the firm between the owners of the firm.

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Firms in Economics What is a firm? Factors of production and factor income Economic and accounting costs Fixed and variable costs of production Taxes paid by businesses

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The firm is commercial organization carrying out costs economic resources for the manufacture of goods and services sold on the market The goal is to generate income through the rational use of basic production resources

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Factors of production and factor income Labor Land Capital Entrepreneurial ability Physical capital Financial capital Investment Loan capital Wage Rent Interest Profit

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In a market economy, the manufacturer forms the offer of goods and services Revenue (or gross income) - the income of the manufacturer from the products he sells. Profit is the difference between income and costs. The manufacturer's goal market economy- get maximum profit at minimum cost

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Choose the correct answer. The producer's income from the products he sells is called Profit Revenue Costs Consumption

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Costs Costs of production are the costs of the producer for the acquisition and use of factors of production Economic costs are those payments that the firm must make to suppliers of the necessary resources in order to divert these resources from use in other industries Internal Cost of own resource External (accounting) payments to suppliers labor resources, raw materials, fuels, services, etc.

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Internal (implicit) costs are equal to the monetary payments that could be received for an independently used resource if its owner invested it in someone else's business. External (accounting) costs are the amount of cash payments that the firm makes to pay for the necessary resources. Fixed costs Variable costs

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Depreciation - a decrease in the cost of capital resources as they wear out in the process of production use

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The atelier purchases fabrics, threads and accessories for tailoring. Costs of the company - Internal, variable Internal, constant External, variable External, constant A citizen organized a hotel for dogs and cats on his suburban area: he built a house and open enclosures, bought food. The citizen himself and his family work in a hotel. What are internal costs? Purchasing fodder Construction of enclosures Equipment at home Land use

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Profit Economic profit is the difference between total revenue and economic costs Accounting profit is the difference between total revenue and accounting costs

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Are judgments about the firm's profit correct? A. Economic profit takes into account the internal and external costs of the firm. B. Accounting profit is obtained by subtracting the sum of the firm's external costs from sales revenue. Only A is true Only B is true Both statements are correct Both statements are wrong

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What is an efficient business? Effect (in economics) - a specific positive result of any activity (for example, an increase in profits received by the company compared to the previous year) Efficiency - the effectiveness of the process, defined as the ratio of the effect, result to costs. Profitability is the ratio of the profit received by the enterprise for a certain period to the costs incurred during the same period. Profitability = profit costs

Social Studies, 11

Lesson #8-9-10

The role of the firm in the economy (firms in the economy)

D.Z.: § 4, ?? (p.53), assignments (p.54)

Ed. A.I. Kolmakov

Lesson Objectives

• To expand and deepen students' knowledge of the economic role of the company in market conditions. Justify the correct behavior of the company V conditions of market relations.
• Enrich students' knowledge economic concepts allowing better understanding of economic realities;
• Continue to develop the ability to use previously studied material in the analysis of new phenomena and processes.

Universal learning activities

• Explains phenomena, gives examples, compares, analyzes, decides practical tasks, reveals the meaning of concepts, argues his point of view, works with texts of various styles, owns the main types of public speaking.

Concepts, terms

• firm, profit, rent, capital
• production costs, economic costs, internal costs, external costs
• economic profit, accounting profit
• fixed costs, variable costs
• direct tax, indirect tax

Learning new material

• Factors of production and factor income.
• Fixed and variable costs.
• Economic and accounting costs and profits.
• Taxes paid by businesses.

Remember.

Firm -

it is a commercial organization

incurring costs

economic resources for

production of goods and services,

sold on the market

Target

earning income from

rational

basic

production resources

Factors of production and

factor income

Entrepreneurial

Telsky

capabilities

Capital

Earth

Work

Physical

Investments

Financial

Rent

Salary

pay

Profit

Percent

In a market economy manufacturer forms the offer of goods and services

Revenue (or gross income) - the producer's income from the products he sells.

Profit - difference between income and costs.

The purpose of the producer in a market economy is get maximum profit at minimum cost

Choose the correct answer. The producer's income from the products he sells is called

• profit
• Revenue
• costs
• consumption

Costs

production costs

is the cost to the manufacturer to purchase and use

factors of production

economic costs

these are the payments that the firm

should produce to suppliers

the necessary resources to

divert these resources from use

in other industries

External (accounting)

payments to labor providers

resources, raw materials, fuel, services, etc.

Internal

Price

own

resource

Internal (implicit) costs - are equal to the monetary payments that could be received for an independently used resource if its owner invested it in someone else's business. IN external (accounting) costs - is the amount of cash payments that the firm makes to pay for the necessary resources.

fixed costs

variable costs

Depreciation - decrease in the cost of capital resources as they wear out in the process of production use

What kind of cost?

• The atelier purchases fabrics, threads and accessories for tailoring. The firm's costs

• Internal, variables
• Internal, permanent
• External, variables
• external, permanent

• The citizen organized a hotel for dogs and cats on his suburban area: he built a house and open enclosures, bought food. The citizen himself and his family work in a hotel. What are internal costs?

• Purchase of feed
• Construction of enclosures
• Home equipment
• land use

Profit

economic profit

Accounting profit

is the difference between the total

firm's revenue and economic costs

is the difference between the total

revenue and accounting

costs

Are judgments about the firm's profit correct?

A. Economic profit takes into account the internal and external costs of the firm.

B. Accounting profit is obtained by subtracting the sum of the firm's external costs from the sales revenue.

• Only A is true
• Only B is true
• Both statements are correct
• Both statements are wrong

What is an efficient business?

• Effect (in economics) - a specific positive result of any activity (for example, an increase in the profit received by the firm compared to the previous year)
• Efficiency - the effectiveness of the process, defined as the ratio of the effect, the result to the costs.
• Profitability - the ratio of the profit received by the enterprise for a certain period to the costs made for the same period.

Profitability = profit

expenses

taxes - This obligatory payments of individuals and legal entities to the state.

Three systems

taxation

Proportional

tax

Progressive

tax

Regressive

tax

The amount of tax pro-

is proportional to

employees' moves

The higher the tax

the lower the income

The higher the tax

the higher the income

taxes

Direct

Indirect

Installed in the form

surcharges on the price of goods

and services

• excise taxes
• sales tax
• partially VAT
• customs duties
• export tax

Mandatory fees charged

state from income or property

legal entities and individuals:

• personal income tax
• corporate income tax
• property tax, real estate,

gift, inheritance, financial

operations.

taxes paid

enterprises

direct tax

from the company

indirect tax

from the company

income tax

value added tax

cost (VAT)

Control questions

• What determines the success of an enterprise?
• What income can be obtained by owning the factors of production?
• Is it possible and how to get income without capital?
• Why does a manufacturer calculate costs and profits?
• What is an "efficient enterprise"?
• What taxes do firms pay?

reflection

Reflection

• What have you learned?
• How?
• What have you learned?
• What difficulties did you experience?
• Was the lesson interesting?

Group work

Exercise: make a list of the costs needed to:

1 group: open a home appliance repair shop. 2 group: organize a gala dinner in a cafe for thirty people. 3rd group: open a sports equipment rental point;

4th group: open cinema hall 3 D

The purpose of the company

• Organize the activities of the company so as to receive income from the sale of goods or services in the form of profit.

The tasks of creating a company

• Rationally choose the type and amount of goods produced.
• Arrange or buy production technology.
• Connect and use the main production resources.
• Properly manage the production process
• Determine markets for finished products.

• Work (employees and their qualifications) – labor resource.
• Earth (the land plot on which the enterprise is located, raw materials) is a natural resource.
• Capital (industrial building, machines, tools) - a capital resource.
• Entrepreneurial ability

reflection

Reflection

• What have you learned?
• How?
• What have you learned?
• What difficulties did you experience?
• Was the lesson interesting?

An enterprise as a subject of a market economy An enterprise is a production unit within which a worker is directly connected with the means and objects of labor and products are created or services are provided.

The company has the following characteristic features: Production and technical unity - close technological connection of all shops, sections, units, jobs. Organizational and administrative independence - territorial isolation, a single team of employees, full responsibility guidance for performance. economic independence - separate property, independence in the choice of activities, suppliers and consumers, in setting prices for their products, in relations with state and financial and credit institutions, in developing plans. rights legal entity- having a name legal address, bank accounts, printing.

Main Components production activities Means of labor Object of labor Living labor The combination of these components takes place at the enterprise.

Interests of the main market participants economic relations in the market is a relationship of exchange. Interacting with each other, the main subjects economic activity make a continuous circulation of resources, products and incomes. At the same time, each of the market participants has its own interest in the process of this cycle.

All subjects of economic activity in interconnection constitute a single economic space of the country. However, it is quite obvious that manufacturers, i.e. enterprises, occupy a pivotal position in this space. This is determined by the fact that an equivalent market exchange is possible only in the presence of produced goods and services. All external factors that affect the enterprise can be divided into two groups: direct and indirect action. The main function of the state in regulating the economic life of the country is the establishment of legal norms for the functioning of economic units. Every company has a specific legal status, established on the basis civil code(GK) Russian Federation, which determines the procedure for conducting business by enterprises, the mechanism for transferring taxes, etc.

Functions The functions of the state include antimonopoly regulation, creation of conditions for the development of civilized market relations among competitors. It also regulates the investment sphere through monetary and credit policy. This policy is based on the impact on price dynamics and the level of interest rates. With tax rates tax breaks, maneuvering interest rates, loan capital, public procurement and subsidies the state develops national economy in the desired direction. the functions of the state are also the fight against inflation, the distribution of income, ensuring economic security, environmental protection

The concept of 'firm' in economics THE CONCEPT of 'FIRM' IN ECONOMY
A firm is an economic entity that has economic independence for
carrying out production activities with the aim of making a profit.
Reasons for the emergence of firms
Some economists believe that the emergence of the firm is due to the need to reduce
transaction costs
Others argue that the emergence of firms is the result of minimizing risk and uncertainty.
Still others link the formation of firms with the development of the division of labor and the specialization of machine
production.

Differences between a firm and a market

DIFFERENCES FROM THE MARKET

Differences:

DIFFERENCES:
The market is characterized by the isolation of factors of production, the dominance of indirect methods
regulation.
The mechanism of the market is formed spontaneously and is not subject to a strict sequence of goals.
The firm, on the other hand, assumes the concentration of factors of production, unity of command, the use of
administrative and economic methods of management.
The company is created consciously, for the implementation of specific goals.
Thus, the firm and the market are alternative modes of organization.
economic activity.

The main functions of the firm

MAIN FUNCTIONS OF THE FIRM

Firm functions:

FUNCTIONS OF THE FIRM:
- mobilizing
- production
- investment
- profit maximization while minimizing costs.

principles of economy

ECONOMY PRINCIPLES
The principle of maximization means that funds should be used efficiently,
getting the maximum income.
2. Principle of minimization: best result achieved with the least
cost of production factors.

Transaction costs are the market costs of preparing, concluding and implementing transactions.

TRANSACTION COSTS ARE MARKET COSTS
FOR PREPARATION, CONCLUSION AND IMPLEMENTATION OF TRANSACTIONS.
information processing costs (about suppliers, buyers, characteristics
goods and services);
the costs of negotiating and making decisions (concluding contracts);
costs of compliance with the terms of contracts;
costs of legal support of contracts.

The effective behavior of the firm includes the following points:

EFFICIENT BEHAVIOR INCLUDES THE FOLLOWING POINTS:
conducting complex business negotiations;
coordination of actions in the efficient allocation of resources;
administrative control over the fulfillment of contractual obligations and risk reduction;
quickly adapt to sudden changes in the market situation, improve adaptability to
various conditions;
the ability to predict and anticipate the direction of change in market processes.
the behavior of the firm in the market is also determined by the type of market in which it operates.

Enterprise Forms

FORMS OF ENTERPRISES
individual enterprises;
partnerships;
joint-stock companies;
business associations (FIGs);
state enterprises;
mixed enterprises.

A sole proprietorship is a small firm owned by a worker.

INDIVIDUAL ENTERPRISES IS A SMALL COMPANY OWNED BY
A WORKER.
Advantages:
- quick organization of the enterprise (opening and closing);
- Simplified accounting and reporting;
- concentration of profit in one hand;
- independence of the owner of the enterprise in making decisions and evaluating the results.
Disadvantage: the owner bears property liability, which extends to his
property, including personal property.

Partnerships are a form of organization of medium and large businesses.

PARTNERSHIPS - A FORM OF ORGANIZATION OF MEDIUM AND LARGE BUSINESS.
Depending on the degree of property liability of the partnership
are divided into:
- general partnership;
- partnership with limited liability;
- mixed partnership.

A joint-stock company is a business organization, co-owners of which can be an unlimited number of owners of funds.

A JOINT STOCK COMPANY IS A BUSINESS ORGANIZATION IN WHICH CO-OWNERS CAN BE
UNLIMITED NUMBER OF CASH OWNERS.
Advantages:
- attracts significant financial resources
- guarantees shareholders a reduction in risk and the possibility of making a profit, as it is a limited company
responsibility
- provides a quick concentration of funds and their movement from one industry to another
- is the most stable form of capital pooling
- attracts professional managers to the management, which allows you to effectively solve various production
questions.
Flaws:
- organization and liquidation are costly
- the complex structure of the JSC increases the bureaucracy
- Poor management control leads to abuse
- The company's profits are taxed twice: first - profits, and then dividends on shares.

types of joint-stock companies: CJSC and OJSC.

TYPES OF JOINT STOCK COMPANIES: ZAO AND OAO.
CJSC is an enterprise whose capital is distributed among a limited number of persons:
members labor collective, founders. Shares can be transferred from one person to
to another only with the consent of the majority of shareholders. There is a relationship between
the number of shares and the performance of any functions. Free flow obstructed
capital, but the independence of the firm is guaranteed (capture from outside is difficult).
OJSC - built on the distribution of shares by open subscription (you can buy
any). JSC annually publishes the balance sheet, income statement and its
use.

Business associations are associations of various firms within which the principles of subordination operate.

ASSOCIATIONS OF ENTERPRISES ARE ASSOCIATIONS OF DIFFERENT FIRMS WITHIN
WHICH THE PRINCIPLES OF SUBDIVISION APPLY.
FPG has the following advantages:
- accumulates significant financial resources;
- creates more favorable conditions for investment activity;
- exercises strict control over the effective use of financial resources;
- produces intersectoral distribution of resources;
- carries out maintenance and implementation of scientific and technical developments.
Thus, FIGs make the most of production opportunities to increase profitability.

State business

STATE
BUSINESS

State business appears in the following forms:
- the enterprise is completely controlled by the owner (budgetary enterprises); property
is immutable, i.e., cannot be distributed among deposits and shares. Such enterprises
received the name unitary;
- public corporations - enterprises owned and controlled by
the state through the ownership of a controlling stake; These are ordinary joint-stock companies, in
which various solutions carried out by the state on a commercial basis.
Mixed enterprises - associations in the form of joint-stock companies and limited partnerships
responsibility (LLP), the functions of which belong to the state and private investors.
Economic activity is carried out both on a planned and commercial basis.