Property as an economic category is based on the following elements: object composition, subject composition and the system of relations between subjects. These points are key.
Object composition of the property
Property is characterized as a relationship between people based on the assignment of results and conditions of production. A broader definition of this concept implies a system of production relations that develop in the process of distribution, consumption and exchange of the means of production.
Property as an economic category includes the object composition. Its objects are primarily the material elements of social wealth. The type of ownership of the product depends on who owns the means of production. The object is the passive side of property relations, which appears in the form of spiritual, intellectual and other values, as well as in the form of property.
Subject structure of property
The subject of ownership is an active person who acts in ownership relations. He has ownership of the objects. Subjects can be a collective of people, a separate individual and society as a whole.
The system of subject relations
Relationships between subjects arise in two cases. Firstly, when the time comes to divide the existing property, and secondly, when it becomes necessary to create a new form of property. The way of connecting the subject and the object shows how the former realizes its position of the owner. At the same time, an important role is played by such a concept as ownership of objects, which is understood as the main form of ownership, legalized and documented. Essentially, these are the actual ownership of the object.
Using an object is using it for a specific purpose at the sole discretion of the user. In the event that he does not have the right to dispose of the object, he can realize the relations of use within a specific period, taking into account the conditions created by the direct subject of ownership.
Today, the most common way of expressing the relationship between subject and object is by command. The power of disposal allows the entity to establish the powers of the owner for the implementation of donation, sale and lease transactions. Thus, property as an economic category is based on close relations between subjects and objects, which plays an important role in the economic development of both individual regions and the country as a whole.
