The main external sign of the existence of the world market is. World market - abstract

chief outward sign existence of the world market is the movement of goods and services between countries.

international trade - This is the sphere of international commodity-money relations, which is a combination of foreign trade of all countries of the world.

In relation to one country, the term is usually used international trade states, regarding the trade of the two countries - interstate, mutual, bilateral trade, and as regards the trade of all countries with each other - international, or world trade.

Often, international trade is understood as trade in both tangible goods ("visible goods") and services ("invisible goods"), which differ from visible goods in some parameters.

International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover.

Export - is the sale and export of goods abroad.

Import - is the purchase and importation of goods from abroad.

Foreign trade balance - the difference in value of exports and imports.

Foreign trade turnover - the sum of the cost volumes of exports and imports.

According to the internationally accepted standards of international trade statistics, the main feature for recognizing international trade, the sale of goods - export, and the purchase - import is the intersection of goods customs border state and fixing this fact in the relevant customs reporting. For example, if the equipment is sold (in fact, transferred) by the American division of Coca-Cola to the Ukrainian division, then this is considered an export and import of Ukraine, even though the owner of the goods remained American company Coca Cola.

Export and import are two key concepts that characterize international movement goods and are used for a comprehensive analysis of international trade and for practical needs. The trade balance and turnover, as their derivatives, have a narrower analytical and practical value.

If we proceed from the premise of the balance of supply and demand, then graphically the concept of export and import can be depicted as shown in Fig. 1.2.3.

Rice. 1.2.3. Graphical representation of export and import:

A)- country I ; b)- world market; V)- country II

Suppose that countries i and II separately from each other produce and use the same product. The demand and supply of goods in country I are D 1 , And S 1 , and in country II - respectively DII And SII. On the horizontal axis of readings, the volume of production of goods QAND, QII, on the vertical - its internal price PAND, P 2 respectively in countries II. The market equilibrium of supply and demand for a product is reached at the point E 1 in a country where the price of a commodity is P 2 and point E 2. In country II, where the price of a commodity is G 2. Because the G 1 < G 2 , this product is cheaper in country I than in country II, and therefore, it is profitable for country I to export it to country II and get some profit from it, and for country II it is profitable to import it from country And thereby save and reduce its purchases in domestic market. Through differences in domestic prices between countries i and II in country i for any price of goods greater than G 1, its excess supply arises. In country II, for any commodity price less than G 2, there is an excess demand for it.

Countries begin to trade. Rivnova price G in the country And means that at the point E 1 the demand for the product is exactly equal to the supply and to the country AND there is no product to export. This defines the point G on the world market supply curve, which shows the minimum price after which there will be no export from country Y. For country II, the equilibrium price G, means that at the point E 2, in which demand equals supply, the country does not need any imported goods because it has enough of its own resources. This defines the point G "g on the world market demand curve, which shows maximum price, after reaching which the import of goods by country II will stop.

Since we are considering only two countries, the quantity of goods exported by country I must match the quantity of goods imported by country II, or in other words, the excess domestic supply in country II must equal the excess domestic demand in country II, that is, graphically A X B X \u003d A 0 B 2, A 1 B 1 is the export of country I, and A 2 B 2- import country II. Export volume A 1 B I will show the second point, which defines S w - the supply curve of goods on the world market, and the volume of imports A ABOUT B 2- the second point, which determines Dw - the demand curve for the product in the world market. But since exports are quantitatively equal to imports, in Fig. 1.2.3, b) they coincide on the line R "E, defining a new market equilibrium, which is reached at the point E I for a new level of world price P" w - the equilibrium price of goods in the world market. The world supply and demand for a commodity at this price is determined according to the curves D, And S.

If a situation arises when the price of the world market for some reason rises above the level G "w, thereby expanding the volume of exports by more than AB x, then the limitation of demand by quantitative framework A 0 B 2 bring the price down to G. If the price of the world market why falls below the level G "w, then quantitatively the demand for imports of goods will exceed its quantity for exports A X Bj and the price will return to the world level G".

Based on the above, the following conclusions can be drawn:

  • the world market is the sphere of the international balance of supply and demand for goods that are exported and imported by countries;
  • export volumes are determined by the volumes of excess supply of goods, import volumes - by volumes of excess demand for goods;
  • the fact that there is an excess supply and an excess demand for international market set by comparing internal equal prices for the same goods in different countries;
  • the price at which international trade, is between the minimum and maximum internal equilibrium prices that exist in countries before the start of trade;
  • on the one hand, a change in the world price leads to a change in the quantity of goods that are exported and imported on the world market, on the other hand, a change in the quantity of exported and imported goods leads to a change in the world price.

Consequently, the world market is a sphere of stable commodity-money relations between countries, which are based on the international division of labor and other factors of production. The world market is manifested through international trade, which is a combination of foreign trade of all countries of the world and consists of two counter flows of goods - exports and imports. The simplest model of the world market, which is called partial equilibrium models, shows the main functional relationships between domestic demand and supply and demand and supply of goods on the world market, determines the quantitative volumes of exports and imports, as well as the equilibrium price on which trade takes place.

The international division of labor laid the foundation for the emergence of the world market, which developed on the basis of domestic markets, gradually transcending national boundaries.

Almost immediately after the emergence of the market economy, markets began to specialize. National markets for goods have emerged, within which retail markets separated from the wholesale, labor markets, capital markets, and, most importantly, some were already oriented to foreign buyers. One of the varieties of the labor market was the ancient times slave trade.

From the 16th century to the middle of the 18th century, manufactory, based on the division of labor, created the conditions for a larger-scale production of goods. There was an expansion of sales markets to regional, state, interstate and world scales. Under the influence of demand in the first half of the 19th century, a large factory industry arose, the products of which could no longer be sold only on the domestic market, it needed a worldwide market.

Thus, in the era of the primitive accumulation of capital, there was a contraction, the development of local centers of interstate trade into a single world market. Its final formation was completed by the turn of the 19th-20th centuries, when commodity production in the leading countries reached high level development. The evolution of the market took place according to the scheme "domestic market - national market - international market - world market".

domestic market- the sphere of economic exchange, within which everything produced and intended for sale is realized within a given countries.

national market- this is the entire market of a given country, part of which is associated with international exchange (export and import of goods and services).

international market- part of the national markets, which is directly connected with foreign markets and is focused on foreign buyers and sellers.

World market- the sphere of stable economic, commodity-money relations between countries based on the international division of labor.

The global market is characterized by the following main features:

  • - is a category of commodity production that has gone beyond the national framework in search of marketing its products;
  • - manifests itself in the interstate movement of goods that are under the influence of not only internal, but also external demand and supply;
  • - optimizes the use of production factors, prompting the manufacturer in which industries and regions they can be applied most effectively;
  • - contributes to the withdrawal from the international exchange of goods and often their producers, who are not able to provide international standard quality at competitive prices.

A product that is in the world market in the exchange phase performs an information function, reporting the average parameters of aggregate demand and aggregate supply, through which each of the participants can evaluate and adapt the parameters of their production.

Acting as a sphere of interstate exchange of goods, the world market has a reverse effect on production, showing it what, how much and for whom it is necessary to produce. In this sense, the world market is primary in relation to the manufacturer and is the central category of the international economy. The main external sign of the existence of the world market is the movement of goods and services between countries.

world market conditions

The simplest model of the world market, called the partial equilibrium model, shows the main functional relationships between domestic demand and supply and demand and supply of goods on the world market, determines the quantitative volumes of exports and imports, as well as the equilibrium price at which trade is carried out.

Over the centuries there has been an ever deeper specialization of markets. On this moment the following classification can be given:

  • - according to specialization, the markets are divided into: commodity and service markets (transport, tourism, consulting);
  • - by volume of transactions: retail and wholesale;
  • - by significance: having a significant impact on international economy(world currency market, oil market); weakly influencing the international economy (local market of grain or agricultural products);
  • - according to the form of organization: exchange (securities market, grain market); over-the-counter (car market);
  • - by degree of monopolization: monopolized (energy market); non-monopolized (there are very few of them, they mainly exist at the initial stages of the market functioning);
  • - according to officiality: official; informal (gray market, black market).

Mechanism f The functioning of the world market is defined as follows:

  • - the world market is a sphere of international balance of supply and demand for goods exported and imported by countries;
  • - the size of exports is determined by the size of the excess supply of goods, the size of imports - by the size of the excess demand for goods;
  • - the fact of the presence of excess supply and excess demand is established in the process of comparing domestic prices for the same goods in different countries taking place on the international market;
  • - the price at which international trade is carried out is between the minimum and maximum domestic equilibrium prices that exist in countries before the start of trade;
  • - on the one hand, a change in the world price leads to a change in the quantity of exported and imported goods on the world market, on the other hand, a change in the quantity of exported and imported goods leads to a change in the world price.

International movement of goods

The main external sign of the existence of the world market is the movement of goods and services between countries.

international trade- the sphere of international commodity-money relations, which is a set of foreign trade all countries of the world.

In relation to one country, the term "foreign trade of the state" is usually used, in relation to the trade of two countries among themselves - "interstate, mutual, bilateral trade", and in relation to the trade of all countries with each other - "international or world trade". Often, international trade is understood as trade not only in goods, but also in services. Services are also goods, but often they do not have a materialized form and differ from goods in a number of parameters, which will be discussed below.

International trade consists of two counter flows of goods - exports and imports and is characterized by a trade balance and trade turnover.

Export- sale of goods, providing for its export abroad.

Import- the purchase of goods, providing for its import from abroad.

trade balance- the difference between the value of exports and imports.

Trade turnover- the sum of the cost volumes of exports and imports.

According to internationally accepted statistical standards key element for the recognition of international trade, the sale of goods - export, and the purchase - import is the fact that the goods cross the customs border of the state and record this in the relevant customs reporting. At the same time, whether the product of the owner changes or not - it does not matter. For example, if a computer is sold (and, in fact, transferred) by the American division of IBM to its Russian division, it is considered a US export and a Russian import, even though the American company IBM remains the owner of the goods. In the theory of the balance of payments, as we will see below, on the contrary, the change of ownership of the goods is decisive, and the sale of Russian raw materials to a branch of an American enterprise located in Russia will be considered Russian exports, although the raw materials did not cross the border.

Export and import are two key concepts that characterize the international movement of goods, which are used for a comprehensive analysis of international trade and for practical purposes. The trade balance and turnover, as their derivatives, have a narrower analytical and practical value and are used less often.

In the world market, as in any market, supply and demand are formed, and the desire for market equilibrium is maintained. To understand how this happens, consider a hypothetical example. Suppose that countries I and II, in isolation from each other, produce and consume the same product, but the resources for its production and the needs for it are different. Accordingly, different market prices and different equilibrium conditions will develop in the domestic market. The demand and supply of goods in country I are D I and S I, and in country II - D II and S II, respectively. The horizontal axis shows the production volumes of goods Q I Q II , along the vertical axis - its domestic price Р I , Р II respectively in countries I and II. The market equilibrium of supply and demand for a good is reached at point E1 in country I, where the price of the good is P 1 , and point E 2 in country P, where the price of the good is P 2 . Since R 1< Р 2 данный товар дешевле в стране I, чем в стране II, и, следовательно, стране I выгодно его экспортировать в страну II и получить от этого какую-то прибыль, а стране II выгодно его импортировать из страны I и тем самым сэкономить и снизить его закупки на внутреннем рынке. Из-за различия во внутренних ценах между странами I и II у страны I при любой цене на товар больше, чем Р 1 , возникает его избыточное предложение. У страны II при любой цене на товар меньше, чем Р 2 возникает избыточный спрос на него.


Rice. 1.5. The balance of supply and demand in the world market

Countries establish trade relations. The equilibrium price P 1 in country I shows that at point E, the demand for the good is exactly equal to the supply and country I has no goods to export. This determines the point P 1 "on the supply curve in the world market, showing the minimum price, upon reaching which there will be no export of goods from country I. For country II, the equilibrium price P 2 ' shows that at the point of equality of supply and demand E 2 the country does not no import of the product is required, since it costs its own own resources. This determines the point P 2 "on the demand curve in the world market, showing the maximum price, upon reaching which the import of goods by country II will stop.

Since there are only two countries, the quantity of goods exported by country I must match the quantity of goods imported by country II. Or, what is the same, the excess domestic supply in country I must be equal to the excess domestic demand in country II, that is, graphically A 1 B 1 = A 2 B 2, where A 1 B 1 represents the export of country I, and A 2 B 2 - imports of country II. The value of exports A 1 B 1 will show the second point, which determines the supply curve of goods in the world market, and the value of imports A 2 B 2 will show the second point, which determines the demand curve for goods in the world market. But, since exports and imports are quantitatively equal, then on the world market chart they will coincide on the segment PE, defining a new market equilibrium, which is reached at point E at a new level of world price P - the equilibrium price of goods on the world market. World demand and supply of goods at this price are determined respectively by the curves D w and S w

If a situation arises when the price of the world market for some reason rises above the level P, thereby expanding the volume of exports over A 1 B 1 , then the limited demand within the quantitative framework A 2 B 2 will lower the price to the level P. If the price of the world market, why -or falls below the level P, then quantitatively the demand for imports of goods will exceed its quantity available for exports A 1 B 1, and the price will return to the world level P.

Based on the above, we can make the following more general conclusions:

The world market is the sphere of the international balance of supply and demand for goods exported and imported by countries;

The size of exports is determined by the size of the excess supply of goods, the size of imports - by the size of the excess demand for goods;

The fact of the presence of excess supply and excess demand is established in the process of comparison of internal equilibrium prices for the same goods in different countries taking place in the international market;

The price at which international trade is carried out is between the minimum and maximum domestic equilibrium prices that exist in countries before the start of trade;

On the one hand, a change in the world price leads to a change in the quantity of exported and imported goods on the world market, on the other hand, a change in the quantity of exported and imported goods leads to a change in the world price.

Thus, the simplest model of the world market, called the partial equilibrium model, shows the main functional relationships between domestic demand and supply and demand and supply of goods on the world market, determines the quantitative volumes of exports and imports, as well as the equilibrium price at which trade is carried out.

The development of the world market for goods led at the turn of the 19th-20th centuries to the intensification of international economic communication, which began to gradually go beyond the interstate exchange of goods. The rapid development of productive forces and the growth of power financial capital gave rise to the world economy.


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