The article provides a comprehensive analysis of the functioning mechanism of the market for educational services, focusing on the interrelation and interaction of its key components including demand, supply, price, and competition. The study meticulously classifies price and non-price factors influencing both demand and supply, and elucidates the specific functions of the education market, such as integrative, distributive, and incentive functions. The author concludes that the market mechanism facilitates efficient resource allocation and aligns educational output with labor market demands. However, it also possesses inherent drawbacks, including information asymmetry and consumers' potential neglect of long-term strategic interests.

At the turn of the 20th and 21st centuries, the global economy was dominated by developed countries, primarily located in Europe and North America. Economic development in the G7 (later G8) countries was determined by the efficient use of natural resources and long-term scientific and technological progress. Resource and energy efficiency were paramount in these countries. For example, the United States experienced significant growth in production throughout the 20th century. At the same time, despite industrial development, high prices were due to the expansion of the service sector and the emergence of new industries based on the scientific and technological revolution