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The objective conditions for economic development

Any economic system is dynamic and takes place in different stages of their development. However, the ultimate purpose of the operation of any economic system is to meet the needs of society and individuals. It is aimed at the production process, is inextricably linked to the consumption of goods and services available to the spending of public resources for their production.

The multiplicity of economic goals with limited resources poses the problem of economic choice - the choice of the best alternative use, providing you with maximum satisfaction at a given cost.

Subjects have to decide: what, how and for whom to produce. The limited resources of determining the alternative use. Society must always choose between accumulation (investment) and consumption.

With the use of resources to meet the needs of all the problems related to economic development.

Solutions to these problems are based on two fundamental economic axioms. The first axiom - the needs of society are limitless, completely insatiable. The second axiom - society's resources are necessary for the production of goods and services are limited or rare.

This contradiction is resolved by choice. Not by chance one of the definitions of economy as a social science says economics describes and analyzes the range of options for the production of various kinds of products of limited resources to meet the demand, which act as

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Global economy

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