Application of the Economic Model of Existing Farms in the Tovuz-Gazakh Region
Sadagat Adigozalova1* 
, Kelimet Abdullayeva1 , Alida Huseynova1
Abstract. The application of modern economic models in the farms of the Tovuz-Gazakh economic region of Azerbaijan is aimed at intensifying production, increasing competitiveness and efficient use of natural resources. Currently, complex measures are being implemented at the state level to ensure the food security of the population through domestic production. Among the efforts made in this direction, farms are of particular importance. Agricultural production cooperatives may create the following funds: a material incentive fund is created in the amount that provides payments based on the interim and final results of the cooperative's activities within the framework of the established bonus system. Dividends are paid once at the end of the financial year, depending on the length of the production cycle. The interim dividend is declared by the supervisory board at the proposal of the cooperative management and is in a fixed amount. The final dividend is declared by the general meeting of members based on the results of the year, taking into account the payment of interim dividends. The material development fund is formed from direct deductions from distributed profits and cooperative payments used to replenish the share contributions of cooperative members. Profits allocated for the development of production are distributed among cooperative members in proportion to their labor contributions to obtain profits.
Keywords: Tovuz-Gazakh region, livestock, farming, grain growing, economic model