Abstract Participants

UDC 330.88 Abstract Participants exchange commensurate goods not for their cost, and not on their usefulness and profitability of the exchange, seeking at least to the equality of benefits. Marshall Finds Cost – the essence, the equality of values which in various products makes these products equivalent: able to communicate with each other. What is this entity? Proponents of the labor theory of value believe that the essence of this is nothing, as embodied in the value of goods work of all producers of goods. Proponents of the subjective-psychological theory of value believe it – the usefulness of products. Alfred Marshall, trying to create a theory of price formation based on a synthesis of labor and subjective theories of value, stated that the price of goods is defined as the costs of production and usefulness of products that affect the final result in terms of supply and demand. Important finding Marshal is his idea that "normal" value of the cost is only formed under conditions of equilibrium of the market where demand is balanced proposal.

As it turns out, the ideas of Alfred Marshall were so close to an adequate reflection of reality, which is only a logical and terminological apparatus for accurately describing the essence of his ideas. Logical-terminological apparatus DISC – the object of exchange that can meet any requirements people (consumers having the property). Cost of goods determined by the cost of labor embodied in it the whole series of his producers. But this match is taking place only in conditions of absolute the equilibrium of the market.