Young people from 18 to 35 represent the basic lever of the development of every society. Their self-employment and entrepreneurship are of particular importance for poor countries and the countries in post-transitional period. The entrepreneurship of the young people is permeated by a large number of challenges. The most important challenges are the method of financing and financial risks in business. The research aim of this paper is inquiring of the exposure to financial risks with the aim of their minimization by adequate management. So as to gain the aim that is set in the paper, we are researching the exposure of young entrepreneurs to the financial risks, the sources of finance of young entrepreneurs, theoretical framework of risk management and quantitative approaches to the financial risk management.

The characteristics of the developing market to which the Serbian market belongs are: illiquidity, low turnover and nontransparency. The aim of this paper is to examine the possibility of application of the Markowitz's model for forming the set of efficient portfolios on the capital market in Serbia. The research is based on previous theoretical and empirical research in the world. Statistical methods of determining return and risk, matrix of variances and covariances for liquid shares have been applied. Portfolio optimization has been conducted by add-in programme Solver included in the Microsoft Excel package, respecting the limitations according to Markowitz's model. The results of the analysis have shown that the set of efficient portfolios, which meets the criterion that they give minimal risk for the given return, can be formed on the capital market in Serbia. The results show that Markowitz's model allows the investors to select the efficient portfolio, but only for liquid shares, depending on the risk they are ready to accept. The findings of this paper indicate that expressive illiquidity on the Serbian market and insufficient number of shares for diversification by sectors make the practical application of the research results difficult.

In the Republic of Serbia, food accounts for a significant share in the consumer price index through which the inflation is statistically expressed. Therefore, in considerations of the basic factors of increase in the general price level, a special emphasis is placed on the specific features of the market of agricultural-food products. The aim of this research is to peruse the effect of the characteristics of the food market in Serbia on the inflation rate. High volatility of food prices is present because of the instability of this market, mainly due to seasonal fluctuations of supply and the effect of natural factors. Bearing in mind that the increase in food prices is the main determinant of the increase in the inflation rate, the indirect state control is very important so as to maintain price stability. Special importance is attached to the following instruments of economic policy: commodity reserves, storage policy, and fiscal and foreign trade policy.

The disparities between the regions are the main obstacle to a balanced and harmonious economic and social development. Increasing regional disparities in the countries in transition has led to the increasing attention paid to multicriteria analysis of regional disparity of economic and social development. The regional development in Republic of Serbia, as a country in transition, after wave of recession faced with additional challenges, such as: increasing the economic gap between regions and increasing regional demographic regression. The purpose of this research is to evaluate the regional disparity of economic development as well as the regional disparity of demographic development in the Republic of Serbia. The aim is to analyze the interdependence between economic and demographic development of the regions. According to the six indicators of economic development and the six indicators of demographic development, this paper makes the analysis by VIKOR and the method of ENTROPY as well as correlation analysis. The results of research indicate that there is a statistically significant relationship between economic and demographic development of regions in the Republic of Serbia. This paper indicates the need for a further research in order to identify the main obstacles that countries face within the process of economic and demographic development.

za pravne i poslovne akademske studije "dr Lazar Vrkatić" Novi Sad VIŠEKRITERIJUMSKA ANALIZA NIVOA DEMOGRAFSKOG RAZVOJA REGIONA U SRBIJI  SAŽETAK: Regionalne razlike predstavljaju jedan od najznačajnijih oblika izražavanja neravnomernosti privrednog razvoja. Neravnomernost u stepenu razvijenosti regiona u Republici Srbiji predstavlja jedno od najkompleksnijih razvojnih problema. Dosadašnja ekonomska politika dovela je do toga da bogati regioni postaju još bogatiji, a siromašni još siromašniji. Regionalne razlike koje se odnose na nivo privrednog razvoja uticale su na različit demografski razvitak regiona u Srbiji. U radu, autori su analizirali kvantitativna i kvalitativna obeležja stanovništva. Posebna pažnja posvećena je primeni VIKOR metode u cilju rangiranja regiona Srbije prema nivou demografskog razvoja. Rangiranje regiona prema većem broju kriterijuma istovremeno, doprinosi utvrđivanju realnog stanja kada su u pitanju regionalne razlike. Na osnovu ovog primera može se zaključiti da se višekriterijumska analiza može uspešno