Abstract
The “market” concept is one of the key concepts of modern economic theory, as well aseconomic practice. It plays an exceptional role in understanding and explaining the properties and patterns ofbehavior of not only individual economic agents, but also economic systems in general. At the same time, up to the present time there is no unified, unconditionally accepted by all researchers definition of the market category, there are about two hundred of which. Such a multitude of definitions, most of which have anarrowly specific, partial character and are applicable only for individual cases, attests in the first place to the extremely high complexity and ambiguity of the content of the market category, as well as its large information capacity. Allthiscertainly speaks about the relevance of the chosen research topic. The essence and content of the market concept at various stages of economic evolution are analyzed in the paper; author's interpretation of theessence of the market and the main components of its content is offered. Among these components, the mostimportantare the freedom of entrepreneurship, competition and market infrastructure, the individual elements of which are usually identified with the market. The authors analyze the subordination of market elements and their interactionand show that many other market elements (the next order) can be logically derived from the main constituents of the content, resulting from both their interaction with each other and the response to their interaction with the continuously developing external environment.
Highlights
The market concept comes from ancient times, when it was viewed as an area in the center of the city, where the products of individual labor were offered for exchange or sale
Toynbee (1934); 2) The abstract-logical method, which is an instrument of scientific abstraction, and allowed to formulate the definition of the market as a form of communication and resolution of the contradiction between production and consumption, and to structure the content of the market; 3) The comparative analysis method which made it possible to differentiate the characteristics of the essence and content of the market category in relation to the different periods of its formation and development and to compare them with each other
Let us consider the essence and content of the category “market” from a slightly different point of view compared to how it was done in the other examples above
Summary
The market concept comes from ancient times, when it was viewed as an area in the center of the city, where the products of individual labor were offered for exchange or sale. With the development of transport and communication systems, it became possible to exchange or sell without a rigid binding to a location, and the definition of the market began to change and become more complex. It begins to be identified first with trade, and with the totality of all relations in the sphere of exchange as a whole. The first attempt to give the market a scientific definition belongs to the French scientist A.A. Cournot (1924), who believed that economists under this term mean not just the area where transactions are carried out for the sale of certain items, but an area where the free relationships between buyers and sellers quickly and lead to the equalization of prices for the same goods
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