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The economic growth potential of agricultural business entities and its typology

Journal: Bulletin of Sumy National Agrarian University (Vol.8, No. 3)

Publication Date:

Authors : ;

Page : 81-85

Keywords : potential for economic growth; economic entity; national economy; factors; agriculture; extensive type of development; intensive type of development;

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Research of the economic growth potential of business entities is an important area of scientific and practical research. It is established that it is one of the characteristics of the country welfare and determines the development level of the national economy. Key definitions related to the potential of economic entities are identified. It is established that the potential essence is determined by qualitative, quantitative indicators and by the plane of the processes and the tendency of efficiency development of individual subjects functioning. The definition of the economic growth potential is given. The main factors that influence the potential level are characterized. The decisive role of innovation, the political structure and the organization of the society in shaping the potential of business entities' growth is emphasized. It has been established that the expansion of national production is possible due to the reduction of the factors number or the efficiency of their use. The differences between extensive and intensive types of development potential of economic growth are characterized. The factors that constrain the potential for economic growth are given (restriction on aggregate demand, social and political atmosphere in the activity of business entities, the level of resource and environmental constraints, state regulation of private business) and have a negative impact on it (unfairness in relation to production, adverse climatic conditions, etc.). The main indicators of developing the potential for country economic growth are given. The differences between the economic development potential and the economic growth process are emphasized. The essence of the economic system development is characterized. The scientific orientation of the economic development potential of the subjects is established. The groups of indicators are characterized by which the economic development potential of enterprises is estimated. It has been proved that the economic development of business entities should be based on the concept and modern model of the enterprise. The theory of the directed business development is characterized. It has been determined that the economic freedom of individual economic entities contributes to their existence, harmonization and a consistent competitive development.

Last modified: 2020-07-03 18:33:28