Page 26 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.73, # 1, 2016, pp. 4-37

where - time, spent by people for a monetary unit, received from sales

of goods and services by type of economc activity, in man-hours per year, man-days per
year, and man-months per year, by the same type of economic activity;
tX=L – the national fund of the time of labor, calculated by the output of
goods and services (Х), defined according to the inter-sector balance sheets,
accounting for the time of workers, expressed in man-hours per year, man-days per
year, man-weeks per year, and man per year;
TY=L – the national fund of the time spent for labor, defined by the volume of
the final product (Ү) according to the inter-sector balance sheets of the time of
workers, expressed in man-hours per year, man-days per year, man-weeks per year,
and man per year;
T(i)=t(i)*B – full time, spent by workers on labor in the monetary unit,
received from the realization of goods and services by types of economic actitvity,
expressed in man-hours per year, man-days per year, man-weeks per year, and man
per year, and years.
The economic content of this equation hs been revealed by the Akimov
algorithm, as follows:
X
Y
since T represents the labor intensity of the final domestic product, and t –
the labor intensity of the gross output, the indicators of labor intensity by types of
economic activity may be denoted as and , which reflect the labor intensity

Y
Х
commensurate to the final gross product of i-th sector (i=1, n), such that T and T
are written as [Akinov, N., 2014]:

Y
X
T = and T = (1)

Х
Y
Having disaggregated T and T , as in (1), we obtain the system of equations
reflecting full costs of physical labor, spent for a unit of the final product in each
sector [Akinov, N., 2014]:

(2)

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