Formation of economic mechanism of a sustainable development of rural areas Authors: Alex Sergeivich Tarasov Array Annotation Sustainable development of rural areas is connected with the need to develop economic mechanism that can realize the potential of available resources for the effective development of the rural economy. Investigation of the nature and content of the economic mechanism for sustainable development of rural areas allowed to formulate the goals, objectives, components, tools, and principles of operation. Task orientation mechanism should be formulated by taking into account representations of villagers about what factors determine the quality of life in rural areas. The foundation for the formation of economic mechanism are the resources of a specific territory. In assessing the resources it is necessary to determine the economic potential of the region in which each territorial unit (rural settlement or a group of them) should receive the rating of development opportunities in accordance with the scale of the possible directions of development. Economic mechanism should provide a solution to two problems: the organization of effective use of the available resources of the territory and the creation of favorable conditions for attracting resources from other areas. On the basis of the analysis of different approaches ,seven basic functions of the economic mechanism of development of rural areas and offered a flowchart of its formation were formulated. Keywords economic mechanism, rural areas, economic potential, sustainable development, system approach, motivation, goals, resources, functions. Bibliography 1. Chalenko, A.Y. O ponaytii neopredelennosti termina “mekhanizm” v ekonomicheskikh issledovaniyakh. 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