In theory economic development” Austrian theoretical economist J. Schumpeter draws attention to the fact that “an entrepreneur is a businessman who does not do what others do, and not the way others do” Schumpeter J. Theory of Economic Development.-M., 1982 , p.150. This provision is of fundamental importance.

The fact is that uncertainty and, accordingly, risk take place to the full extent not when an entrepreneur acts according to established and proven rules and norms, in full accordance with the letter of the law and the textbook, but when he acts contrary to traditions, established norms, when decides to choose a new field of activity or a new direction unknown to others. This is what B. Gates did in his time, taking up the development and release software and the release of computers and became the richest man in the United States.

The purpose of entrepreneurial activity is the production and supply to the market of such a product for which there is a demand and which brings profit to the entrepreneur.

Profit is the surplus of income over expenses resulting from the implementation of the entrepreneurial decision to produce and supply goods to the market, in respect of which the entrepreneur has identified unsatisfied or hidden consumer demand.

However, making a profit is characteristic not only of entrepreneurial, but also of any other form. business activity. In this regard, it is important to pay attention to the selection of such economic category as entrepreneurial profit, or entrepreneurial income. Income from innovation activities, i.e., from the introduction of new methods and techniques for organizing production, and constitute entrepreneurial income. Under entrepreneurial income, one should understand, first of all, additional income, income from management, the surplus received by the entrepreneur due to his natural qualities or his special ability to analyze and combine production factors in a new way depending on external conditions.

In other words, the profit of an entrepreneur (if we are really talking about an entrepreneur, and not about an ordinary business person) consists of two elements, as it were:

• - the usual profit of a business person;
• - a surplus over the ordinary profit of a business man.

The second element acts as an entrepreneurial income (profit), that is, a form of social reward for the innovative approach shown, innovation in production.

Every entrepreneur thus acts as a business person, but not every business person can be classified as an entrepreneur if we are talking about the actual phenomenon of an entrepreneur.

The development of entrepreneurship is possible only if the necessary subjects of this kind of activity are available. These subjects make it possible to develop market relations (and not vice versa, as it is seen by many in Russia). The emergence of business entities implies the presence of a certain social situation, when the ideological, political and socio-economic situation provokes an "entrepreneurial boom".

Implementation entrepreneurial activity at an effective level, therefore, is possible only if there is a certain social situation - the business environment, which is understood, first of all, the market, the market system of relations, as well as the personal freedom of the entrepreneur, i.e. his personal independence, allowing him to make such an entrepreneurial decision, which, from his point of view, will be the most effective, efficient and most profitable.

Entrepreneur, unlike other subjects market economy receives entrepreneurial income in the form of capital gains. Entrepreneurial income usually less than gross and net profit, since they are formed at enterprises that reproduce and fulfill their obligations to the state and employees. Gross and net profit are distributed in different forms, including in the form of entrepreneurial income (Fig. 2).

As you can see, at first, external deductions are made from the gross profit of the enterprise (taxes, interest on a loan, rent, charitable foundations). The remaining net profit is used for the purposes of expanded reproduction (accumulation, training, development social sphere, environmental needs). As a result, the entrepreneur receives personal entrepreneurial income (profit) from the net profit of the company. If this is not a private, but a joint-stock enterprise, then part of the net profit is distributed among the shareholders.

Figure 2. Distribution of gross and net profit of the enterprise

should be distinguished absolute value profit from the rate of return, showing the degree of return on capital (funds). The rate of return P 1 (or the rate of return) is expressed as the ratio of the mass of profit (P) to the advanced costs (A), consisting of the cost of the means of production (K) and the cost of wages of workers (Z):

P 1 \u003d P / A \u003d P / (K + Z) * ​​100.

In economic practice, the annual rate of profit is usually determined, the value of which is directly proportional to the number of turnovers of capital. It is calculated as the ratio of the profit received during the year to the total capital advanced.

To increase the rate of profit, the entrepreneur seeks to use all factors. Among production factors, which can be influenced by an entrepreneur, the following can be distinguished (Fig. 3).

Figure 3. Rate of return and its factors

The height of the rate of return is directly dependent on the absolute value of profit, on the share of expenses for hiring workers in the structure of capital costs, as well as on the active part (machinery, equipment) in the composition of the means of labor. The annual rate of return is the higher, the faster the turnover of capital. At the same time, the money advanced for the purchase of means of production returns to the entrepreneur more quickly, which makes it possible to increase the size of production and profits with the same total amount of capital (funds). This is also facilitated by saving the cost of means of production and other factors, the large scale of production, which makes it possible to use more productive equipment and technology, and the division of labor. The level of the rate of profit is affected not only by the above internal factors, which can be influenced by the entrepreneur, but also external ones, for example, fluctuations in market prices, the amount of interest, taxation, rent, etc. These are market factors that affect the absolute value and, therefore, the rate of profit.

Entrepreneurship - a special, innovative form of households. activity that organizes individual entities or a group of individuals capable of implementing new combinations of factors of production, with the aim of making a profit.

Conditions necessary for the development of entrepreneurship:

1) The presence of private property;

2) Freedom of entrepreneurial choice;

3) The presence of eq. interests in society;

4) Favorable legal environment;

5) Unequal social Wednesday.

Entrepreneurship Functions:

1) Studying the needs of buyers and their effective demand;

2) Organizational - choice of type of activity, organization of activities;

3) Making major management decisions;

4) Resource - definition necessary resources, their connection for production;

5) Innovative - the implementation of innovations, the promotion of goods;

6) Risk - taking risks and responsibility for the results of activities.

Types of business:

1) By areas of activity:

Production;

Trade;

Intermediary;

Financial;

Venture (with increased risk) - the development of new technologies.

2) By form of ownership:

Private;

State;

Mixed.

3) By the scale of activity:

microentrepreneurship;

Small business;

Average;

Large.

4) According to the form of organization:

Individual;

Collective.

Profit - remuneration of such a factor as entrepreneurship.

Entrepreneurial (eq.) profit - the balance of the entrepreneur after deducting all production costs from the gross proceeds.

Pr (profit) = Gross revenue - Gross costs (Q * P) , where

Pr - profit

Q- overall volume products sold

Ek. costs - the cost of services of all factors of production, regardless of whether they are bought on the market or are the property of entrepreneurs.

Using his capital, entrepreneurial abilities, land, the owner of these factors distracts them from the use of others. alternative species activities. Loss of payments - the firm incurs implicit costs by using its resources to carry out its own production.

There are approaches to determining the sources of entrepreneurial (eq.) profit:

I. I. Schumpeter developed the theory entrepreneurial profit as a result of innovation. He identified 5 types of innovation:

1) Production of a new product or creation of a new product quality;

2) Exploration of a new market or a new market segment;

3) Implementation new technology;

4) Obtaining a new source of raw materials or semi-finished products;

5) Organizational and managerial innovations and reorganization of the company.

The pursuit of entrepreneurs for profit entails constant innovation in production, and this is the engine of eq. and technical progress.

II. The name of F. Knight is associated with the idea of ​​risk as a source of entrepreneurial profit.

Risk - this is a situation of choice, the consequence of which is random, the inability to accurately predict the final result.

Knight distinguished 2 types of risk:

1) Risk, the probability of which can be statistically calculated and against which it is possible to insure.

2) Risk that is fundamentally uninsurable (unpredictable changes in supply and demand, etc.)

Risks of the 1st kind can be insured and included insurance premiums into production costs.

Entrepreneurs take risks of the 2nd kind.

According to Knight, the source of entrepreneurial profit is the taking on uninsurable risks by the entrepreneur.

III. The source of entrepreneurial (eq.) profit is imperfect competition.

An entrepreneur who has achieved a dominant position in the market has monopoly power, which allows him to receive excess profits in long term.

Profit - Generator of the market economy.

Profit functions:

1) Distribution - contributes to the efficient allocation of resources between alternative options for their use.

2) Stimulating - encourages entrepreneurs to efficient use resources. It is a source of financing for expanded production at the firm level.

3) Information - provides firms with signals for making decisions to expand or reduce production.

1. Entrepreneurship: economic content, functions, types ... ..3

2. Entrepreneurship and profit. Theories of Entrepreneurial Profit………………………………………………………………………6

3. Firm like organizational form entrepreneurship. Organizational and legal types of the company………………………………..10

4. The economic nature of the firm. Economic goals firms. Profits and production costs. Accounting and economic profit..13

5. Costs of the firm in the short and long run. scale effects. The optimal size of the company……………………………....18

6. Supply and equilibrium of the firm under perfect and imperfect competition…………………………...………………..22

1. Entrepreneurship: economic content, functions, types.

The concept of "entrepreneur" appeared in the XVIII century. and often associated with the concept of "owner".

A. Smith characterized the entrepreneur as an owner who takes economic risks for the sake of implementing a commercial idea and making a profit.

In Russian legislation, entrepreneurship is interpreted as an initiative independent activity citizens and associations, aimed at making a profit and carried out at their risk and under their property responsibility.

Entrepreneurial activity is impossible in a tough environment. centralized system- enterprises in such an economy are engaged in economic activities, not entrepreneurship. In entrepreneurship, subjects and objects are distinguished.

Subjects entrepreneurship can be private individuals, various kinds of associations ( joint-stock companies, rental collectives, cooperatives) and the state.

Objects entrepreneurship can be any kind economic activity, commercial mediation, trade-purchasing, innovative, consulting activities, operations with securities.

Depending on the content of the activity, there are types of entrepreneurship.

Manufacturing entrepreneurship- this is one in which the production of goods, services, information, spiritual values ​​is carried out. The function of production in this type of business is the main one.

Commercial entrepreneurship consists in operations and transactions in the resale of goods and services and is not related to the production of products. The profit of the entrepreneur is formed by the sale of goods at a price exceeding the purchase price. If these transactions are carried out within the law, then they are not considered speculative.

Financial entrepreneurship is a kind of commercial business. The object of sale and purchase here is money, currency, securities.

Intermediary entrepreneurship is manifested in activities that connect the parties interested in a mutual transaction. For the provision of such services, the entrepreneur receives income.

Insurance entrepreneurship is a special form of financial entrepreneurship, which means that the entrepreneur receives an insurance premium, which is returned only upon the occurrence of an insured event. The rest of the contributions form business income.

Entrepreneurship is impossible without innovation. In this regard, two models of entrepreneurial behavior are distinguished: classical and innovative.

First is that a businessman seeks to organize his activities with the expectation of maximizing the return on the resources at his disposal.

Second model focuses not only on its resources, but also on the ability to attract and use external resources. Attracting its own and external resources, the entrepreneur prefers the most profitable options development of your business.

Depending on the form of ownership, entrepreneurship is divided into public and private. Specific gravity these two sectors in national economy mobile: with nationalization, the boundaries of state entrepreneurship expand, privatization narrows them.

There are three types of business:

individual, or private;

partnership, or partnership;

corporation (joint stock company).

Individual entrepreneurship called a business owned by one person. He bears unlimited property liability and his capital is small - this is the disadvantage of individual entrepreneurship.

Its advantages: each owner owns all the profits, he can make any changes himself. He pays only income tax and is exempt from corporate tax. This is the most common form of business, typical for small shops, service industries, farms, as well as professional activity lawyers, doctors, etc.

Partnership, or partnership, is a business owned by two or more people. Partnerships are also subject to income tax only. The advantage of a partnership is that it is easy to organize and attract additional funds and new ideas. The disadvantages include the limited financial resources in a developing business that requires new capital investments, an ambiguous understanding of the goals of the company by its participants, the difficulty of determining the measure of each in the income or loss of the company. In the form of a partnership, brokerage houses, audit firms, services in the service sector, etc. are organized.

Corporation called a set of persons united for joint business activities. The right to property of a corporation is divided into parts by shares, so the owners of corporations are called shareholders, and the corporation itself is called a joint-stock company. Corporation income is subject to corporation tax. The joint-stock form of entrepreneurship has become the most popular in Russia

Entrepreneurship and profit. Theories of entrepreneurial profit.

Profit is one of the most common categories modern economy. Every person has the word "profit" in his active vocabulary. We already know that the firm's objective function is to maximize profits.

Profit is also one of the most controversial categories in economics. There is no clear interpretation of profit accepted by all economists today. Moreover, economists are not arguing about the definition of profit as such - everything seems to be clear with this. Profit is "something" remaining in the revenue of the enterprise after deducting all costs from it.

Historically, there have been two enlarged interpretations of profit: profit as the income of the owner of a specific factor - entrepreneurial talent - and profit as a certain residual value remaining after imputing each factor of its income. Let's call them conditionally objective and subjective theories.

Objective theories explain the origin of profit by some external causes, one way or another connected with violations of competitive equilibrium.

Conjunctural theories (profit as a result of market disequilibrium). As you remember, in the conditions market equilibrium the entire income of the firm is distributed among various factors according to their marginal product. There is no place for either profit or loss. However, imagine that as a result of some external causes, the market situation suddenly changes, for example, there is an increase in demand for a certain product. This led to an increase in its price. Therefore, the firm's revenue ( TR = pq) has increased. However, the prices of factors of production (and, consequently, the costs of the firm) did not change (they are usually fixed by more or less long-term contracts), their productivity also remained unchanged (why would it change?). Thus, there is no reason to pay the owners of the factors an excess of income, and, therefore, the firm has some part of the income that did not go to any factor. This is the profit of the company. Conversely, when demand falls, there is a loss (negative profit).

Profit as a manifestation monopoly power . One of the well-known objective explanations for the emergence of profits is associated primarily with references to the imperfection of competition. Profit is earned by the firm as a result of its dominance in the market. Profit under certain types of imperfect competition, monopoly and monopsony.

Subjective theories presuppose the presence of the fourth factor of production, which we have not considered before, - "entrepreneurial talent" and, accordingly, the availability of income for the owner of this factor (entrepreneur) - entrepreneurial profit.

Common in the XVIII-XIX centuries. was the interpretation of "return on capital" as the third component of gross income, along with salary and rent. Economists of that time did not distinguish between explicit and implicit costs and considered profit the surplus received by the capitalist after reimbursement of expenses. "Profit on capital" was usually subdivided, following A. Smith (1723-1790), into interest on invested capital in the interpretation of N. W. Senior (1790-1864) and J. S. Mill (1806-1873) - "reward for refraining" from the expenditure of own capital on current entrepreneurial income.

So the representatives classical school and 19th century socialists. equated the entrepreneur with the capitalist. The easiest way to explain this is by the fact that in those days the owners and managers of firms were indeed in most cases represented by the same people.

J.-B. Say (1767-1832), although often considered only a popularizer of Smith's ideas on the European continent, however, made a significant step forward compared to his teacher in terms of introducing the term "entrepreneur" into scientific circulation as a participant in the economic process different from the capitalist. Say wrote "about that part of the profits of the entrepreneur, which comes, as it were, as a reward for his industrial abilities, for his talents, activities, spirit of order and leadership." 3

Later, with the advent of the era of the dominance of marginalist theories, the very problem of entrepreneurship disappeared from neoclassical microeconomic analysis. In fact, if in equilibrium the total product is completely reduced to payments to factors of production, the number and name of these factors themselves are of little importance, and without prejudice to research, we can abstract from such an equilibrium-disturbing phenomenon as entrepreneurship.

Profit and innovation. The outstanding American economist J. A. Schumpeter (1883-1950) in 1912 (however, then he was an outstanding Austrian economist) in his famous book "The Theory of Economic Development" (Russian translation 1982) first developed the theory of profit as a result of the implementation innovations. To do this, he had to enter economic analysis the figure of the entrepreneur, the Innovator, as Schumpeter called him. The role of the Innovator is in the search and implementation of new combinations of various factors (resources) of production.

Schumpeter identified 5 main types of innovation:

the production of a new product or service or the creation of a new product quality;

the development of a new market or market segment.

ü the introduction of new technology in the production of goods, as well as a new way of commercial use of the goods or the replacement of one product with a similar, but cheaper one;

ü obtaining a new source of raw materials or semi-finished products for the production of goods;

ü organizational and managerial innovations and reorganization of the enterprise.

Profit and risk. The idea of ​​risk as a factor in the formation of profit is already found among the founders of economic science, for example, A. Smith. The concept of risk faced by an entrepreneur was also, for example, actively discussed at the turn of the 19th and 20th centuries. in the American Economic Society (by the way, D. B. Clark took an active part in the discussion) and on the pages of the Quarterly Journal of Economics (in which Hawley opened the discussion in 1892).

Profit, understood in this way, should not be attributed to the income of the entrepreneur, but rather to the income of the owners of other factors. When an entrepreneur is too optimistic about the future and predicts a high price for his product, he, in the event of an unfulfilled forecast, will suffer losses, and the owners of the factors will receive an income greater than the value of their real marginal product. 1980s enroll in low-prestige accounting or banking specializations, upon graduation found that they had significant competitive advantages when looking for a high paying job.

The difference between the total income for a certain period and total costs for a similar time period.

it financial results performance of an economic entity, demonstrating how effectively the funds invested in the business are used.

Accounting and economic profit

• accounting profit. This is the difference between the income of the entrepreneur and the explicit costs, i.e., the amounts that the company transfers to suppliers of goods and services. The latter represent a set of expenses for the purchase of raw materials, materials, rent of premises, payment utilities— gross costs of an economic entity.
• Economic profit. These are the funds remaining with the entrepreneur after deducting all expenses incurred: accounting costs and opportunity costs, which are lost profits associated with the use of resources belonging to the business entity in a certain way. If the economic profit of the merchant is less than zero, the option of leaving the market is considered.

Entrepreneur's profit depending on the method of calculation

• Gross profit. This is the difference between the company's income from the main activity and the cost of goods or services sold. The indicator is reflected in line 2100 of Form-2, annually submitted by business entities to the tax authorities. Gross profit shows how effectively the production activity companies. To increase the indicator, the company needs to reduce the cost of production or increase the price of the goods sold.
• Extraordinary profit. This is the difference between income and expenses from transactions that are not related to the main direction of the entrepreneur's work. For example, it is formed when manufacturing company conducts operations with securities, leases free space, provides software products for temporary use.
• Operating profit (EBIT). This is gross profit less sales and management expenses (salary administrative staff, rental of premises, marketing promotion of goods), other expenses (purchase of office supplies, interest on loans and borrowings, bank commissions) and increased by other income (interest on deposits, income from non-core activities). EBIT is not reflected in financial statements enterprises, but used by lenders and investors for analysis financial condition companies or individual entrepreneurs.
• Net profit. This is the amount of funds that the entrepreneur has left after paying taxes and other obligatory payments. To calculate it, the cost of goods, all types of expenses incurred, deductions to the budget are deducted from the total revenue of the company. Net profit shows investment attractiveness and the solvency of the company, the efficiency of its functioning (ie, the ability to generate income for owners), the degree of financial stability.

Profit acts as main motive entrepreneurial activity. The entrepreneur is more willing to engage in any activity, the greater the amount of profit that this activity brings. Economists use the term "profit" to refer to the difference between a firm's total revenue and its costs.

Entrepreneurial income- part of the profit from entrepreneurial activity, which entrepreneurs themselves receive for risk, innovation, organization of production and labor. 10.2. Entrepreneurial income, on the one hand, is a reward for demonstrated entrepreneurial abilities, and on the other hand, the result of the final distribution of the enterprise's profits.

Figure 10.2. – The structure of entrepreneurial income

Entrepreneurial income includes:

Normal profit. If its value is insufficient, then the entrepreneur will take up another, more profitable business or give up entrepreneurial activity altogether for the sake of obtaining wages working for hire;

economic income, i.e., income received in excess of normal profit. This part of entrepreneurial income is a function of economic profit. Recall that economic profit is the difference between the gross income (revenue) of the firm and its economic costs(the sum of both external and internal costs). Sometimes it is also called superprofit.

Property income - These are amounts paid by enterprises for the use of economic resources. Consider income from providing firms with capital, land and other natural resources, and cash.

Income from ownership of capital - this is dividends by shares. They can be treated as interest income on real capital acquired by the enterprise with money provided by the person who bought the shares. At the same time, the owner of the shares can be considered as the owner of the corresponding share. authorized capital enterprise, and then the dividend can be interpreted as part of the income from the provision of this share for the use of the enterprise. Apparently, both opinions are legitimate in both cases, elements of the two approaches are combined, and income can be attributed to any of these categories with equal justification. We will adhere to the second interpretation of dividends, as is customary in the system of national accounts and Russian legislation.

Joint-stock enterprises form funds by issuing and selling shares, which are evidence of ownership rights to a part of the authorized capital. Shareholders are entitled to and can receive dividends. Dividends, therefore, are property income received as a result of the provision of funds at the disposal of enterprises. Forms of organization of production can be different - open and closed joint-stock companies, partnerships, cooperatives, etc. Regardless of this, dividends are understood to mean all types of distribution of profits in favor of shareholders and owners, no matter how they are called.

The price of the physical capital acquired by an enterprise is determined on the basis of the conditions of its production, supply and demand for the means of production, the profitability of the projected production and the market rate of interest.

Households receive part of their income by lending money capital in the form of interest on loans. Money does not belong to economic resources, however, their borrowing allows you to purchase or rent the resources used in production. Attracting money capital, entrepreneurs thus get the opportunity to use the real factors of production and receive income associated with this.

Interest is the price you pay to raise money. Accordingly, interest is understood to mean the amount that the debtor pays to the creditor for a certain period of time without full or partial repayment of the principal amount of the debt in the form of interest or a predetermined amount. Interest is thus income from the ownership of money, which is received by the owners of deposits, bonds, securities (except shares), borrowed money and some other similar assets.

Income from ownership of land and subsoil - these are the incomes received by the owner for their transfer for use to other institutional units - enterprises. Land and subsoil owners provide them on the basis of contracts or leases, under which users are obliged to pay income in the form of rent (subsoil payments are often defined as royalties).

Also considered as household property income is the estimated income of policyholders, which is added to the cost of the policy at expiration. Insurance risk reserves and dividend insurance reserves are managed by insurance companies but are owned by households. They can invest in securities and other assets that generate income. Such income is the income of households holding, for example, a property insurance policy, reinvested in net income. equity households in insurance reserves. The income from reserves is treated similarly. pension funds owned by households and not included in equity funds.

The price of any item includes integral part the value of natural resources, including land. The income that this factor of production brings is called rent. Relations regarding the pricing and distribution of income from the use of land, its fossil resources and real estate are called rental. In a narrow sense, economic rent refers to the price of land paid by the tenant to its owner for the possibility of productive use and profit. The rent is part of this profit and is paid by way of its distribution in favor of the owner of the land. Ownership of land with its natural resources and real estate in the form of built structures provides a basis for obtaining net, that is, absolute rent, as well as income in the form of rent. Sometimes, the rent includes a rent if the land plot is leased for economic use with structures built on it. Rent advocates independent form payment, in which only real estate is used, i.e. structures, buildings, etc. In the markets for factors of production, land, its resources and real estate are included in the commodity circulation as resources that do not have alternatives for mutual substitution in many areas of management. They generate economic rent because their supply in the markets is inelastic or insufficiently elastic. In a broader sense, economic rent is the price paid for the use of land and other natural resources, which are strictly limited. The volume of natural resources used, as a rule, does not change to any significant extent, the fixed nature of the supply of these resources means that demand is the only effective factor determining rent. It is possible to increase the productivity of land, to improve its quality, it is possible to increase the market level of rent as payment for land, or to reduce this level to a minimum, but the amount of the aggregate supply of this factor of production at any given time cannot be increased. Net economic rent is determined by the ratio of supply and demand for land in the markets. With regard to the inelastic supply of land, its resources and real estate as factors of production, market demand is the most important condition for pricing, including rent and rent in production costs. For entrepreneurs, the demand for land and the factors of production associated with it must match the amount of marginal product received in monetary terms. The slope of the demand curve means a gradual decrease in income, which can be counteracted by improving land use practices, applying progressive technologies and ways of using such factors of production. One of the conditions for changes in the demand for land and the factors of production associated with its use is the market rate of interest. Calculation of rent depending on the rate of interest is a kind of discounting of such a capital asset as land, its resources or real estate located on it. The discounted amount of rent is necessary when concluding agreements on the use of these factors of production for a given period. Differential rent. Discounting captures differential rent, i.e., rent received from more profitable plots of land, and contains some