Forex science studies specific issues
It is difficult to put a single definition that includes all of its subjects, as it is similar to many other sciences
Another definition of Forex is the application of a type of study to identify the behavior of individuals and the societal activities associated with the consumer and production fields. By utilizing the available resources to satisfy the diverse needs of the present and the future.
Forex History Many economic systems appeared in peoples
It was one of the necessary means to organize social life, but with the passage of time the science of Forex appeared as an independent science, dependent on a set of principles and rules. In 1776 AD, the book The Wealth of Nations was published by the economist and economic thinker Adam Smith, who was known as (the father of economics), and this book contributed In affirming the principle of economic freedom, which was based on the idea of the economic phenomenon, which is the basic basis of economics.
After the spread of Forex science as an independent science:
This led to the strengthening of the interest of modern scholars in studying all economic elements, whether they are primary or secondary. Where they were interested in studying personal interests, which include obtaining wealth and satisfying human needs, and then the interest in studying Forex and exchange emerged as one of the factors affecting the economy, and they were called neutral elements; That is, there are no conditions that bind them to agreement with the law or morality
This indicates that economics is one of the neutral sciences, but this does not mean that it is not affected by religious, legal or moral values. Rather, these values are considered among the main influences on economic behavior, and in the principles that contribute to the formation of applied economics.
- Forex characteristics Economics is characterized by several characteristics that contribute to its distinction from other types of sciences; Here are some of the most important of these characteristics:
- Economics is one of the social and human sciences. It seeks to study the behaviors of societies and individuals, which are associated with obtaining various needs, and ensuring an increase in income. Forex is concerned with the means used to increase wealth; By enhancing the role of production activities in the various productive fields.
- Forex studies the ways to help generate income, the means of consumption, and the methods used in financial saving for the future. The economy pursues the appropriate mechanisms to achieve all economic goals in societies; By studying the demand and supply within the markets, and the factors that contribute to influencing them, such as government intervention and monopoly.
- The Nature of Forex Scholars and scholars have differed over how to classify economics; Where this difference appeared when many issues concerned the study of the nature of the economy, a group of scholars believe that its nature indicates that it is an independent science, while another group believes that it is a social science, and the following is an explanation of the nature of the economy according to different opinions:
Forex as a separate science Economics as a separate science; It refers to the scientific nature of economics; Some economic thinkers believe that economics is a means of solving problems; By relying on the use of a scientific method concerned with data analysis and collection, and the development of theories and laws related to them, such as interest in studying the employment rate in a particular country; Therefore, a similarity appears between economics as an independent science and the process of solving scientific and economic problems.
Forex scholars have also been interested in studying another issue related to the nature of economics
as an independent science; Where there was a clear interest in classifying economics between being a positive or normative science, positive science is the one that is concerned with clarifying a particular thing, while normative science is the one that is concerned with clarifying what this thing should be; That is, economics is a positive science when it can determine what is right or wrong, while economics is a normative science if it is able to evaluate a particular concept, and after analyzing the science of Forex it was decided that it is a science that combines positive and normative.
Economics as a social science Economics as a social science; The opinion indicated that economics is a social science concerned with the study of the behavior of individuals; Where the main function of economics is to study the way facilities, people, and countries use resources; With the aim of making the best possible profits, this Forex function is called maximizing behavior; The best Forex refers to choosing the appropriate alternative that achieves the highest profits among the available alternatives. This has contributed to the classification of economics as a social science. For example, Forex is concerned with studying how individuals use their income; In order to purchase various products.
The classification of Forex as a social science has contributed to the study of how establishments make their own decisions, and the following includes the selection of appropriate products to work on their production, the use of production techniques, the location of the factory, and the prices of these products. In order to meet all the special needs of their communities; This leads to economic prosperity.