A THEORETICAL MODEL FOR THE DETERMINATION OF THE ECONOMIC COSTS IN THE CONTEXT OF A FUNDAMENTAL DESIRE OF THE HUMAN KIND: THE SUSTAINABLE DEVELOPMENT

MOROȘAN Adrian, Lucian Blaga University of Sibiu

Abstract:
In this paper we propose a theoretical model for determining the economic costs. We will elaborate this model based on a concept of contemporary economists, namely sustainable development.  For our model will consider the effects of the entropy law, as well as the possibility for the economic agents to benefit or be victims of the outcomes of market failures, besides the concept of sustainable development.  The model of economic cost determination proposed is a theoretical one, because the economic reality of the countries generates specificities specific to the various activities that have to be taken into account through some adjustments made.  That is why we aim, as an objective of future researches, the development of concrete tools and techniques to determine economic costs.

Keywords: economic costs, the law of entropy, sustainable development, market failures

JEL Classification: D60

Volume: 71, Issue: 1

Pages: 82 - 88

Publication date: March, 2019

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/71108morosan.pdf

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