Abstract

The article considers and analyzes the views of domestic and foreign scholars on the theoretical definition of the market in general and the agricultural machinery market in particular, and forms a critical assessment of their statements. A detailed analysis of the place of each subject of market relations and their impact on the functioning of the market is carried out. The author emphasizes the special place occupied by financial institutions and agricultural producers in market relations. The author emphasizes the need to direct the efforts of agricultural machinery market participants to ensure the most favorable conditions for the activities of agricultural enterprises as the main source of effective activity of each of the participants. The essence of the market is defined through its functions and principles. In modern conditions, the market performs the following functions: intermediary, pricing, information, regulatory, stimulating, and health-improving. The principles on which the market economy is based are: the principle of freedom of economic and entrepreneurial activity of an individual, family, social group, enterprise in all spheres of life within the framework of the rule of law; the principle of state regulation of the market and market relations; the principle of market pricing; the principle of contractual relations; the principle of openness of the economy; the principle of competition. The development and formation of the agricultural machinery market is influenced by historical processes, as well as by socio-economic factors which define it as an integral system of interdependent components which are united for one purpose - to make a profit. Based on a critical assessment of the definition of the essence of the category “market”, analysis of research by classical and contemporary economists, both domestic and foreign, the concept of the agricultural machinery market should be interpreted as a set of relations between producers, sellers (dealers), financial institutions, logistics companies and the State, on the one hand, and buyers, on the other, regarding the purchase, operation and repair of agricultural machinery to maximize the economic effect of all parties to the relations.

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