@article{MAKHILLIBM2016103027155,
    title = {Economic Foundations for the Reproduction of Cultural Potential by Households},
    journal = {International Business Management},
    volume = {10},
    number = {30},
    pages = {6765-6769},
    year = {2016},
    issn = {1993-5250},
    doi = {ibm.2016.6765.6769},
    url = {https://makhillpublications.co/view-article.php?issn=1993-5250&doi=ibm.2016.6765.6769},
    author = {O.K.,S.M. and},
    keywords = {Culture as a system of socio-economic relations,cultural potential as an economic resource,artistic activity as an independent sphere of the economy,the cultural potential of households},
    abstract = {Updating and developing economic theories of cultural potential as a socio-economic resource of
the national economy provide a solution to an important scientific task to form new, reliable knowledge for the
evolution of a new system of economic relations in the sphere of domestic culture and art products their
exchange, distribution and consumption in the regional market. In domestic science the scope of culture
development studies and understanding culture’s economic rationale in terms of artistic activity is getting more
limited; the definitions of “culture”, “cultural potential”, “artistic activity”, “the cultural potential of
households” remain poorly explored. In this regard, the researchers reveal the essence of their economic
content and raise the following questions. The substantiation of the fact that culture is a system of
socio-economic relations that ensure the preservation and reproduction of cultural potential in artistic activities
and the formation of cultural products (goods and services) as economic resources for the national trade and
industry. The efficacy of cultural potential reproduction and economic relations establishment for the
socio-economic system of the national economy. The preservation of Russia’s artistic activity as a major
economic and strategic factor for the modern national economy. The substantiation of the fact that households
are important economic entities that provide personal and common wealth in the conditions of cultural potential
reproduction and local communitie’s cultural heritage maintenance. Understanding the main aspects of solving
these tasks by modern science will give an opportunity to form methodological tools to upgrade the
mechanisms of economic relations development in such spheres as cultural potential maintenance and
reproduction, effective control of exchange, distribution and forecasting of cultural good’s (services) optimal
volume in the consumer market.}
    }